Buffett purchase $3 billion of perpetual preferred stock with a 10% dividend.

There is this common misconception among relatively young and newbie RE investors in Canada (more specifically Ontario) that the markets will continue to rise in perpetuity.  

I understand the perpetual nature of this strategy and the struggles with finding traditional refinancing options once an appraisal is done and you want to pull all of your equity out.

I don't mean to be stereo typical, and have seller financed from younger people.

There are six section 8 units down the street from us; 5 of those units are quiet, hard-working adults with young kids who behave BUT ONE unit has a family of the stereotypical section 8 tenants - they let everyone stay with them, there is trash all over their yard all the time, they usually have broken doors and furniture in front of the unit on a semi-weekly basis, and they even allow drug dealers to use their yard/corner for dealing. 

His wife was physically abusive and regardless of the biases and stereotypes that often stigmatize our vets with PTSD, he never fought back.

Oildale is a bit lower class, and the stereotypical renters are less conscious of the upkeep of properties. 

I sent out a pretty stereotypical "We buy Houses" postcard to these owners.

Don't assume that just because a property was once zoned as multi-family that it is perpetually grandfathered into this zoning.

The problem is if you do not do your homework, you can get stuck in a cheaper property that is in the wrong area and the losses, vacancy and vandalism will be a perpetual loss that will be insurmountable to overcome.