There are areas in Houston that still fall into this, in spite of our recent real estate price boom.

And I don't know of a statutory supported path past 3/yr inspite of what the gurus say.  

@Calvin Kwan- There isn't actually a hard and fast rule, in spite of all the "12 months" posts that you will read around here.There needs to be a story, a narrative, that makes sense. 

I do allow my tenants to have security systems installed (that they pay for) and I do allow them to pay to have window bars installed (by my handymen, they can't do it themselves, but they do have to pay).The reason my portfolio is viable is because I'm very close to Market Rent on all of the units, in spite of their location, thanks to Housing Choice Vouchers (HCVs).

In spite of what I had I felt more comfortable in construction.  

Also, in spite of having construction knowledge, renovating an 80 year old house presented some challenges that kicked my backside.

My wife and I had a significant cash hoard to buy the property and rehab it out right and it is now rented and cash flowing in spite of a few minor setbacks.

The process in most places is relatively painless in spite of all the horror stories.

This is in spite of owning our primary and several rentals in LA.

I love the fact that in spite of the set backs you still would like to pursue real estate .