Here are a few things to keep in mind:Eviction Process: Courts often prioritize tenant rights, and during certain times of year (like the winter months), it’s tougher to get an eviction through.Legal Barriers: If the property is rent-stabilized or the tenants have protections, it could mean additional layers of complexity. 

No matter where you choose to invest, please keep in mind the following (copy & paste):--------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

We found that we were often outbid by novice investors or that the bank set a reserve price so high we couldn't make the numbers work.

@Xuming Yu, I'm usually the one who is more accommodating of tenants, but not in this case.

I've had him read some of my books on investing, and we have conversations often about how you can finance (and refinance) properties, etc. 

Since Section 8 properties often need some work to pass inspection, you may need around $10k or more for potential upgrades or repairs.

About 25% of tenants are late but as long as they pay their late fees and get caught up you shouldn't worry about it.

Obviously, the rules will differ from state to state.The most successful buyers have trusted bidders with cashier’s checks in multiple denominations (for cash sales) and the actual buyers have field runners and people to monitor multiple prospective properties at a given time and check sales status for postponements due to BK, etc.This is the case in larger metro markets where many properties could go to sale but few do so.There are often better ways to acquire properties then auctions.

That has led them to continue to jack up rent prices and often, push out good tenants for the sake of an extra $100/month.

I’d love to hear some perspectives from more experienced investors on what you think about the info below:$75k for a 5bd 3 ba manufactured home that rents out each room for $500/monthPros:Reliable tenant paymentsCheap purchase price relative to income generatedPotential for ~16% CoC ROICons:Long distance investment (requires property manager)Month-to-month leases per bedroom (& no deposits collected)Located in Utica, MS – not a thriving market for rentalsManufactured home – not sure this type of home will build equityUnsure what kind of tenants live here Hey Molly!