That is, what are similar type, size, age, class, properties selling for within a 3 miles radius?

We own B/C class houses and stabilize them after we purchase.

However each asset class require a learning curve. 

Still curious to know what people's investment experiences have been in this environment.

If you're dealing with a higher class of tenant, maybe you'd give them more time.

So, if term leases are required, you may be trading one problem for another if MTM is your business model based on class/region.

The main areas of concern should be the tenant class, which is difficult to deal with and the city permit office also less than stellar to deal with.

It does seem to me like the Deep South is a difficult environment but I'm sure there's a method.

Some of the multifamily properties for sale in what I would consider low-class C to D neighborhoods are asking $200,000 and up for areas, I would be comfortable living (I have lived in the city my whole life so my tolerance is a lot higher than some).

My experience is that we simply have more problems with the tenant base at our class B-/C property as opposed to the Class B+/A- asset we own.