Eliminate debt, establish a budget, and save.

If the tenant has low net worth, a court judgment is practically worthless.Taking a week to vet a tenant can save months of headache.

I was being factious with the suggestion that PP folks would run up to the high desert they are more likely to go out to La quinta and one of the many private clubs there which will have housing to their standards ..  

But the only strategic thing about them is that you need to keep good records and hire a tax professional who knows how to maximize the tax savings from things you already paid for. 

@Aileen OuyangCan you save money while keeping it? 

Yet they bought a portable machine that could only wash one outfit at a time to save money.

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

*That said* - I agree with @John Underwood as you should be concentrating on saving and owning investments, not attempting to create a middleman job.

@Dave Allenhello. this is going to sound reductive but if you want something immediately cash positive... i'd go with a savings account.rentals are long-term cash positive. 

Save stamps and they can keep track.Hope this helps