I thought this would set a good tone for the property and catch eyes of people who may be driving through the neighborhood.

Contrary to the opinion of some, in most jurisdictions you can collect a number of applications at the same time and then rank them according to your previously established rental criteria.

I have a contract to purchase a residential foreclosure in a affluent neighborhood for $160,000 but property current as-is value before doing any rehab work is more like $280,000-320,000.      

Flipping requires being a little choosier about neighborhoods.

I know the crime rate is high (maybe very high) and those are not what can be considered a "good neighborhoods" but how is that should impact my decision?   

Occasionally I might find a really good deal that's also in a great neighborhood and I think it would be an awesome rental.

What neighborhoods are you looking in? 

The neighborhood is up and coming and the price was right.

I can close on a 3%-4% property in other markets today in neighborhoods that do not require a police escort, and further in States where I can evict for non-payment without the nanny state telling me to wait for months on end.I'll note a few things about my political fluctuations comment:1) I am not arguing for YOU to not invest here - I do not care what YOU do. 

After doing our due diligence with the surrounding area we have found that his properties really are the blight in the neighborhood.