[quote=SD Realtor]Cash flow has no boundaries, decent or otherwise. The pain threshold for management of properties, tenant quality personal and/or neighborhood safety varies for all of us. Cash flow calculations on paper rarely match reality as you move into more questionable areas unless you are intimately experienced in those neighborhoods.[/quote]
Agree, SDR. IIRC, flu owns a 1 br condo in MM which he bought last year as an investment property.
spdrun is looking for the same-type property.
As you know, managing a single tenant (or a couple) in a 1 br unit (where HOA dues take care of the landscaping, etc) is a completely different animal than managing a SFR with a family with minor children as tenants. The family-tenants can turn into a LOT MORE WORK and headache for the LL, no matter WHERE it’s located. Tenant families can be hard on properties and leave them trashed and in disrepair in MM, SE SD, or even in CarmelV!
Like you, I’ve seen a LOT of properties both for rent AND for sale in several areas which would qualify as “upper-middle class” in which pets (unknown to the LL) were brought in and the carpet was trashed, the interior doors were kicked in, the kitchen was filthy (have you ever taken apart a $1500+ Jenn-Aire downdraft cooktop to clean 4″ of grease out of it?), the pool was green, etc, etc.
No area is immune from filthy tenants or tenants who will stiff their LL on rent without batting an eyelash, or filthy, deadbeat owners for that matter … not even RSF.
