While these neighborhoods may carry perceived risks, they can offer excellent risk-reward opportunities.

@Robel Nessro if you're majoring in something like business management/finance/business, you'll certainly learn a lot of skills that you can transfer to numerous branches of REI...So, that type of college degree can give you multiple points of leverage (it can help you understand REI, while also helping you understand how to operate other businesses, while also qualifying you for W2 jobs--so, you can reap multiple rewards and have multiple options just from one college experience--that's great!)

The Class B-/C type neighborhoods, where the typical tenant has reasonably steady jobs, has some choice in housing options, isn't going broke needing to decide between rent or groceries (to the aspiring investors reading this: food will always trump rent). 

Just some food for thought, stuff I wish I knew when I was younger.

Food, Taxes, property Insurance.

So $50K on new HVAC won't be rewarded with higher rents as much as $50K on new kitchen, bathroom, flooring, windows, etc.

We used to do granola bars, but we've switched to Kind Breakfast bars because they're similar to granola bars, IMO better, and being a breakfast bar, it makes for an impromptu breakfast with coffee and tea (provided in all properties) for guests who roll in late at night and wake up with no other food in the house.

@Jerry Shank,Welcome to the BP community.Having your sights set on REI at anytime I believe is a food plan to build wealth. 

I am just now looking to begin my own portfolio, as I see the rewards my clients are receiving. 

STRs has some really cool tax advantages (which will take some work) but it is a high rist and high reward strategy.