There are 2 fourplex properties that my grandparents owned outright and recently passed on to my parents, who don't know much at all about real estate investing or growing the investments.

Think through what your parent or grandparents paid for their house.

One thing I will say there is a shortage of is properties that accept a pet (single pet, ie 1 dog)You will see a lot of manufactured housing on this corridor, but there are some older homes needing updates since the parent or grandparent had just passed (just toured a great one that sold for $219k in a week (cash) that was massive but my buyer was afraid of the work & it was easy fix and flip)As I mentioned below, I'm very curious to your style-what makes the right deal for you?

Imagine what our grandparents paid for TVs relative to their income, for a 12" BW box inside a cabinet that weighed 300 pounds, especially in today dollars . .. . 

People like Central Tucson because it is close to the downtown that has a great food and night activity scene and is also close the University of Arizona campus that draws lots of parents and grandparents and people who just like the college campus vibeWest Tucson is a great option for the views, golfing and resort feel.

Buy something that will be in demand for years to come and rent to tenants you want to rent to (college, young professionals, families, grandparents).

I have recently been gifted my great grandparents home and it's going to be a complete gut and renovate costing approximately 150k.

I grew up learning maintenance on properties my parents and grandparents had in Akron, then started buying my own after college.  35 years later, been full time for the last five years or so.  

Would you have your parents take a second lien against their current home to do the deal or your grandparents?

I remember the Milwaukee deep freeze when we would go back to visit my grandparents in the winter months..