Mostly this is because to play real estate requires knowledge, and lots of it.Few people are aware that at its origin, “Real” in real estate stands for Royal – French; in other words the domain of the chosen few, as represented by the nobility of the time.Real estate is still very much the domain of few and select, but today the limiting factor is no longer the bloodline, but the intellectual worth of the player.

After Warren Buffet bought numerous manufactured home factories - I was unable to buy any more repo homes from Greentree & Vanderbilt in NC.

I'm sure greed was a factor. I

Another factor is what % of that property is to your net worth?

I'll keep any Section 8 tenants I inherit but otherwise have found that the effort of dealing with the Section 8 agency adds a hassle factor.  I

We had a disagreement, but my training and knowledge of the ordinance made sure that closets weren't opened.Another very important factor is to ask whether the inspector is EPA RRP certified (Renovate, Repair and Paint).

What becomes a factor is the level of competition.  

Toledo is a medical town so here, you are going to get a good mix of medical professionals, we also have the Jeep and Glass factories, so that is a basic of tenant as well. 

Because experienced investors and bankers always include a risk factor in their analysis & that risk factor is vacancy rate. 

It's not always about the money, sometimes the most pressing factor is time.