I'm sure people were saying the same thing a decade ago. However, if you had of purchased a few IPs in the Logan area 10 years ago you would have experienced some awesome growth and probably be quite wealthy now.
Yes, it's a lower socio economic area, however it's been showing great capital gains over the last 10 years, is situated between the GC and Brisbane, has decent yields and the properties are relatively affordable.
To mitigate some of the problems associated with the lower socio economic aspect, make sure you get a good PM on board (do a search for one on the forum - it's been asked a few times) and take out landlord insurance.
I personally think Beenleigh (and Logan in general) will continue to perform well.
I've got a townhouse in Waterford. 100% occupancy and no problem tenants. The houses in the older part of Waterford seems like good value to me, Close to good local private school. It has a nice country feel.
I have an IP in Beenleigh which I bought 5 years ago for 225K and would now fetch at least 350K. It's been rented to good tenants most of the time. So, needless to say, I'm a very happy landlord. My only regret is that I didn't buy a second IP in the area.
Don't know a lot about Beenligh. However we have an IP which has a reputation in having ferals in it. Growth has been great and we haven't had any major problems with our tenant. Our family also has a property on the Gold Coast that is known as one of the better suburbs and we had a huge issue with one of our tenants. (would call the tenant feral).
If the numbers make sense, don't be too concerned if the area is known for ferals. Ferals can rent any property. It's not like you need to live in the area, just have the rent paid for. If the tenant causes issues you can always kick them out (can be a long process) however in my experience the so called feral suburbs aren't any worse for tenants than nice suburbs.