If your familiar with these cities, I understand that some folks would give these areas a C to B- class rating but I'm willing to take that risk based on being able to find cheaper properties in those areas.

@Carlos Castañon another thing to consider is what typical market cap rates are specifically for the asset class you're investing in.

For those 4 years though there’s no time to manage C class houses or property managers.

sounds crazy but here are my numbersSay you find a single family for 200k in a c class neighborhood with a 9 cap rate purchase price- 200kcap rate- 980/20 financing, 40k downstreams of returnappreciation (3%)- 6krental income - 9k (18k-9k loan payments)loan paydown- 3ktotal return- 18kroi- 45%Why wouldnt everyone be all over this?

Definitely something to be said about Midwest sensibility and the neighborhood we purchased in is low A/high B class.

I think your assumption on the B class for summerlin and the B/C for spring valley is pretty accurate.

There's generally less of a "feeding frenzy" and thus more opportunities for a couple classes of property: 1) larger 5+ complexes weed out a lot of first time buyers who don't have the cash or experience to work in this space. 2) "C" ish properties tend to attract fewer offers than solid B+ properties in this market.

Lately, I've heard about developers getting serious about building infill housing in the class C/C+ areas, supposedly up to 50 in my area.

Over 10, 15 years or longer, how does class A hold up.

But on average I think $90-150/sqft is a good range depending on the area and the class of finish-out.