As a few have said here put your nose in books, go to meet ups, research the forms and ask questions.  

It very much depends on housing type and price point.Luxury apartments in Nashville have taken a nose dive due to massive over supply Affordable single fam and small multi fam are still renting quickly.

I do understand the risk here to the landlord / owner if housing prices take a nose dive in the area. 

There are enough businesses that cater to people with bad credit that they can survive, although they pay thru the nose for those services. 

Leaving raw chicken in refrigerator, & they shut off the fridge... no notice,, odor reported,, had to enter and then found it.. just so you know.. you restart the fridge first and then get nose plugs.Raw chicken in washing machine... no notice odor reported.. this was bad..Crap in washing machine.

I have no desire to tango with the IRS and like to keep my nose clean, but am exploring data and options as I consider what routes to pursue going forward in real estate as well as what resonates best with me. 

if not their nose is not to the ground.

After this deal, that is still faithfully paying, i remember looking at some turnkey deals and really turning my nose up at them thinking the exact same thing "why would anybody to this for $150 a month" here is why i have changed my strategy to a turnkey that may pay 10% ROI versus a virtually no hassle note investmentDownside of notes:-Vacancy on Money.  

I'm talking head down, nose to the grind stone, geek out sessions where we develop in depth and thorough spreadsheet checklists and systems for each process.

Sure, you can overpay and hope for some appreciation, which will likely be here for a few more years, but you will be paying out your nose with negative cash flow for that hope.