You might even start to spread out into reits or index funds or Bitcoin.

My mother and I bought a 4/2 for 15K only to find out later that all the wires and cooper pipes had been stolen!

Jobs range from stolen HVAC units, missing kitchens, fire damage, water damage, roof damage everything in between. 

The cons are pretty apparent - more stuff to break/maintain/be stolen.

I cannot tell how many friends and family I've told about REI and all they want to do "BitCoin" and in most cases "nothing".

Yeah, there's always a chance ... your property could not appraise, your credit identity could be stolen and this may take time to repair, the market could shift and banks could tighten their lending standards on investment properties ... the possibilities are endless.Moral of this story - you have to weigh 'chance' and 'probability' differently

If motivated and distressed sellers where actually in the know, they would have this line installed in every single purchase and sales agreement with any and all buyers: “Seller reserves the right to recoup any and all equity stolen from an unlicensed broker in this transaction from the buyer.

There was no plumbing (stolen), outdated electrical, no heat/AC, unfinished attic and a bad layout.

The condenser in my outside AC unit was stolen (there is literally nothing inside the case).

Of course, ACH and credit cards can be disputed, checks can bounce, hell even cash can be reported as stolen.