I'm talking commercial grade tile/carpet and cinder block walls not drywalled and painted with thick, commercial grade, cheap paint.

The rehab quote we have received from our original contractor was about $35k per unit to renovate with low-medium grade touches.

This is all I do day in and day out.A pharmacy might be a better buy for you if you just want to accumulate equity and principal pay down over time.

(Husband once worked for Gulfstream) While there, and based on what I saw when we purchased our rentals...I believe mid-grade SS appliances, updated fixtures, inexpensive granite counters, and mid-grade hardwood and/or tile floors will appeal to the broadest audience and will get you the longer-term professionals. 

If it's a large corporate investment grade backed lease for thousands of stores for the one location.

If that is a market you are narrowing in on check out The Ultimate Guide to Grading Cleveland Neighborhoods

I grew up in Phoenix (Chris-town area) I attended Maryland Ave School for 5th grade more than forty five years ago.

I already knew some things were not right and told her to to not clean the carpets and just pay me the 100 dollars it would have cost to clean them since I was going to replace them because they were dirty and worn out.I did some checking and found out this carpet was only 4 years old and a mid grade carpet at that.

If this is completely below grade, it is possible, but doubtful it was originally constructed as a duplex.

As Bryan stated, your question is quite broad. if you are referring to apartment buildings, keep in mind that the area is only ONE of several factors which contribute to a property grading.