In general, banks will want to see that you are financially stable and that you have some reserves so they will want to see that.

If you are financially stable, I would talk to a local bank about pre-qualifying for an additional loan to buy the rental with.

You will have a much happier life with similar returns investing in better housing stock that rents to stable working families. 

Queensgate is class D, North Avondale is very stable, but again make sure you understand the area very well.

I am thinking about focusing my search there due to it seeming a little more stable of a market.

That type of thing leaves a bad taste in my mouth in regards to the stock market.Too many times i've seen shareholders just wiped out like that even investing in or with a supposedly stable company. 

I think they're crazy.I agree jobs are fairly stable. 08 was rough up here, my family was affected. 

(some are cyclical and some are more stable than others and more in demand in case they lose their job): some landlords only like jobs in the medical field etc. 8.

The property could be used for many things (split & developed, leased to another non-profit, leased to a horse stable manager, open a winery, wedding venue, etc.)

You haven't looked at what happens if the market goes down, only stable or increasing.