It's now a bit below my desirable COCROI but I feel it has a lot of potential for appreciation over the next couple years with the neighborhood trending towards a B from a C+. 

If it falls into C class, you might be looking at a 8-9% cap rate.

Unit B is for $90,000(rent income $875) unit C is 165,000(rent $1250). 

It also can depend on neighborhoods and is it an A, B C etc...

Based on that you probably could max out at $400K and that is with good credit and history of doing properties.This will definitely put you in the C or D class neighborhoods. 

IE on our form it says (paraphrasing) Subject to an  A)Home Inspection by licensed inspector B) Radon C) Lead Paint testing D) Asbestos E) Other.And you check off what you want (Stronger offers have the least checked).

Not sure if these two are B or C, but they are next door to each other....Both, by the way, overstate the pro forma rent by 20%http://www.loopnet.com/Listing/20019249/1102-E-Mar...http://www.loopnet.com/Listing/20145014/1010-E-Maryland-Ave-Phoenix-AZ/

http://morrisrussell.com/meet-our-team/james-c-mccaskill.html

So this neighborhood I would say is a C/C+.

Looking at a property,Listing says 2 family, C of O from the '20s says 1 family duplex.Owner seems to "not know"How can I use this to my advantage / how can I protect myself in situations like these?