Experience with Rooming houses as investment properties?

[Jason Ross]

I have an opportunity to acquire a "Rooming House" that, on paper, looks very strong.  I have a call scheduled with the property manager to learn more about the nature of the tenants, but was curious if anyone had experience, good or bad, with this type of investment and some 'pearls of wisdom' for what to look for, ask, or frankly run away from.  Thank you.