I'm a new investor, and I found a property in a C class neighborhood (a lot of college kids also) that is in downtown Kalamazoo, MI that I'm hoping some of you BP'ers will give me some feedback on whether it's a deal you would enter into. 

I took a deeper dive, and listened to may of the podcast episodes that Sean had put out, as well as the BP podcast episodes where the various methods of wholesalers were revealed in interview after interview.I found many similarities among what I'd read and heard on the podcasts:Direct Mail is a very popular way to goYou'll likely need to spend thousands in marketing dollars (most likely using yellow letters and postcards) to get the deals coming in to youOnce you get one deal, the rest snowballCommit to one marketing strategy, bandit signs may work but they tend to be the least favored here on BP (due to their "uglying up a neighborhood" and the fact that many times they are illegal and get removed)So I get the general gist of this but the questions I still have unanswered are:How does one know what is the right legal language to put on contracts?  

It's difficult to tell if it's more risky to buy locally in a bad neighborhood or out of state in a better neighborhood. 

You don't want to put too much money into a bad neighborhood.

The neighborhood was hit hard when the market went down.

Look at it this way, all money they send to PG&E they cannot pay in rent to you.Before we move inside, let’s briefly talk about the neighborhood.

In that neighborhood it's the only way to collect a paycheck.

I know many neighborhoods in Houston that never appreciated for decades. 

You can put your equity into a nicer neighborhood with better tenants and less capital expenditures (if you aren't already in a nice neighborhood) and also reduce your involvement by hiring a property management company.

At the cheaper price points that will likely be PG county, and then DC has a number of neighborhoods at different price points.