@KJ Miller, i haven't fully read every word of the responses you've gotten on this 3-page thread, but it seems that you've gotten a lot of folks who are, understandably, naysayers. It's, indeed, a risky business to deal in low-income communities, and I know what that life is like. That said, it is precisely where risk is misunderstood that it is often mis-priced, and that there are boatloads of $ to be made. The theory very much holds in reality here. So, in short, I disagree with much of what is being said here, and I agree with @Bill Thompson very strongly.
Let me put it this way. There are MANY ways to make $ in real estate, and I am by no means an expert, but I have been exposing myself to as much of the industry as I can. One way is obviously to buy distressed and force appreciation, another way is to maximize rents, etc. These are all "top-line" initiatives, if you will. However, you can also make $ by increasing the efficiency of the building and thus increasing the NOI. I actually personally know investors who do this - and there are several. What one does is negotiate on pricing for the expenses of the building while keeping rents mostly where they are bc there will be fewer opportunities to raise rents (although Section 8 pays much more than people think). If you are good at this, you can actually get better pricing on premium services and material for the building and actually create a much more welcoming environment for those in these communities. Also, while you do that, yes, these buildings cash flow massively, so you will certainly be compensated for the risk you take in this endeavor.
Let me also add this. I do agree with the person who said that your vision is "naive," but not for the same reasons they likely have. I merely think so bc you are uninformed right now on what is required to succeed and to even get started in this strategy - but that is not something that can't be rectified with time, hard work, networking, and education. What I believe you will need includes serious private lending sources (BP, wealthy friends, legit REIAs where heavy hitters play), strong negotiation skills, the temperament (as Bill said) to even deal in these communities (as you seem to have), and an understanding of how you can generate returns that will be worth it for investors. I know folks doing this that are generating 20-25% annual returns just from more efficiently running the building. It's absolutely a fantastic business that actually does make very strong financial sense; it just does take a fair amount of sophistication and capital to play in it.
For what it's worth, those are my $0.02.
