Please don't get too hung up on neighborhood grading. It's not as important as you think. If you have a rental property in mind, ask the property management company that you are planning to work with if they will be able to find a tenant for the property. It's that simple! Don't over complicate things otherwise you won't take action. Your learning process starts with your first deal!
This tends to be a little more defined in the large commercial world. In smaller invstments it is more subjective and relative. One of my mentors used to use a 7 point scale, some use ABC, some ABCDEF, Baltimore City has a map that goes to G, I believe.
My advice is get to know your market. To do that follow the Hundred house rule. Until you have looked at 100 houses you don't know your market. Look at listed propeties, open houses, FSBO, Wholesale deals, at location auctions, other investors properties etc.
Great advice. I happen to live in a growing very aggressive market so was just wondering how much weight to put in the “grading”
"Grading" is very subjective, so always take it with a grain of salt (especially if a seller/wholesaler is the one telling you the grade). Good luck!