For me it is an experience.It's just like some people eat stuff that tastes like cardboard for food just to keep themselves going and others really can tell when they are eating something amazing with all the colors, textures, layers of flavors with the food.

Some areas, like Sedona, have an ample (500+ yr) supply of underground crystal clear, delicious water.

Again, these questions have a bit of turnkey flavor to them, but they work very well when interviewing management companies.

Theirs is more the traditional style, like Giordano's on deliciousness steroids.

So I think you are letting a very small subset of the population, immigrants flavor the way you look at low income workers.

Chad competes in BBQ cookoffs and I enjoy running (which works with all that delicious food he cooks). 

So its not that issue for me.. its simply what I experienced and we probably were not good enough at it (landlording) even though we might have thought we were... bad tenants simply come in every flavor of the rainbow..

The Keys are too, more 3rd world in flavor. 

There are many different flavors of real estate investing every time you meet someone new you'll discover a new approach to it.

I will take a stab at why the caution, and please let me know if you agree or disagree ... it seems to me that even among the NPNs there are different "flavors", but the main ones that come to mind that I think are pertinent to the discussion are:1) Non-performing 1st with sufficient equity (from the LTV and/or discount you got) such that you can foreclose to recoup your investments plus make a decent return.