Every pitbull I have met has been nice and defied the stereotypes however I’m in this business to mitigate risk.  

Second, these powders set up a self perpetuating cycle.

Survivors create a floor for greater growth in the future. if we continue to enable perpetual growth of inefficient systems then it means we build bigger houses of cards.

Just like I can laugh at Pennsylvania's crappy pothole roads and perpetual roadwork etc.

I need to vet new clients to ensure they are not perpetual tire-kickers and get a baseline understanding of their current situation/goals. 

I really don't mean to be stereotyping them, I've just never worked with section 8 before.

The issue that compounds this is that, for the renter that ALWAYS pays weeks late, option #2 can happen every month, forever, and the tenant would incur no costs, could refuse to pay late fees, but never be evicted, and the Landlord would eat the $150/mo for serving process in perpetuity. 

But I think others are basing their opinions on stereotypes. 

Instead, think about how you can invest in a property, be in line with regulations and cashflow/equity paydown in perpetuity.

This isn't a knock on your parents, they likely weren't around people who invested in real estate and thus its a foreign subject.Wishing you a clean closing and perpetual occupancy!