Evaluate what traits you consider to be a generally accepted as desirable and undesirable and write them down and do the scoring of 1-4 for it as well. 

"Gentrification" is not wrong.A neighborhood is either desirable or expensive or undesirable and inexpensive.

It is also why virtually every economist states rent is undesired; economist understand the impacts of rent control.  

I understand managing the tenants may be a headache, but I am confident the information i've been consuming here on the site, from the book (on managing rental property) and the bp podcast that i along with my "core 4" should be able to tackle most if not all issues in regards to undesirable tenants.

It really weeds out the undesirable & high risk renters.

We charge1 months rent as a leasing fee10% of the rent monthly as a management fee Or a minimum amount per unit if it is in an undesirable area. 

@Jeff Lamothe What undesirable experiences?

But actually asking an investor to 100% fund it and get half, that sounds very undesirable.

You may have to renovate a property, building maintenance fee may go up, rent will come down and vacancies will rise as the old properties become undesirable with time.

Failing to do so may result in undesirable tenants and financial loss.Enhancements:Sometimes required due to market competition: For example, if all similar properties on the market have granite counters in the kitchen and your property has laminate, you may need to install granite to rent the property at market rate.Cost-justifiable enhancements: Changes that increase rent and have a reasonable payback period.The formula we use for estimating the payback period:Payback Months = (item cost) / (monthly savings or increased rent)For example, suppose the property has laminate kitchen counters.