I sold a banana plantation and went through the 9th degree explaining why I was moving such a large amount of money to the US. 

Too bad, they used to be the cream of the crop, but have since sold their souls. 

You will not be getting the cream of the crop below 75-100 units as there are hardly any economies of scale.

@Joseph Lee from everything I have seen Central AC does not increase rent, but from my experience, I do see it as important to pull the cream of the crop tenants, and I think it will add to your value vs your competition when we see a market shift. 

I just respect their suggestions, pay them promptly, bake them banana bread from time to time...BTW: a 4 plex for $25K?

Single-family purchases do not offer the luxury of cream-of-the-crop property management and are very expensive (~8-10% vs. 3-4% for large multifamily). 

The rental market is bananas.

You still may be held liable anyway if you knowingly allow them to keep a dog with a bite history.If the tenant has a guest over doing keg stands and the bust their head open or the guest trips on a skate board, slips on a banana peel, or whatever - do you want the guest to sue you or the tenant?

@Travis BuckDude, if you got paid in bananas and coconuts, you'd still have to pay tax on that.

But we are very careful with tenant selection and find the creams of the Class C resident pool.I think you're going to be disappointed with paying out more than $50K per unit for anything that only yields $100/month positive cash flow.