I think I would find it very rewarding.

Anyone out there that would "feel bad" for a tenant in this situation please let me know and I'll provide an address where you can send a charitable contribution to cover their past due balance. 

I suggest you build up your cash reserves to be two months ahead on the mortgage, be cool with the tenants, they will reward you for it.

i.e. area's, number of bedrooms etc.Estate agents wont be too forthcoming with introduction fees but an off market source of property should be able to reward you.

If I am the one who is going to have to put in the time, effort, and potentially capital to raise rents or reduce operating costs, I'm not going to reward the Vendor for my efforts to improve the business.The long and short is: Base your offer on the current (and recent past) performance of the business and do not be tempted to pay more because there is untapped potential (higher rents, lower costs, etc).  

But in the end, it pays off, and allows you to be a part of a neighborhood's renaissance, which is rewarding both financially, and personally.

It will make our time together more rewarding for us both.

Your reward for all your work. 

Referrals are the greatest value you can provide an agent, so reward a good agent for their work and loyalty by giving them some introductions to your network, especially your investor friends.Best of luck on your search to find an agent you can create a long term partnership with.

As they say, big risks may lead to big rewards.