Your "war stories" include tales of clouds of fleas hovering about 8" above the carpet (this really happened to me in Houston) and of walking in on tenants/sellers or squatters in "flagrante delicto" (this too!).

As a side note, my addendum has numerous weasel clauses that I don't really need.

That's what a forum is about and so far you are being very elusive.I understand your 50% rule of thumb completely, I just do not think it is accurate for all investments and I make a personal choice to use other calculations.I have said on numerous occassions that the 50% rule is simply a way of stating that the operating expenses in the United States for residential rentals run (average) 45% to 50% per year over time.

After reading numerous posts here i have a few thoughts to share.1.

He spoke about it at length for us a couple weeks ago and while the guy makes piles of cash, you wouldn't want to be in a bidding war with him.

Wow a bidding war on a cat house.... must have been some REI bus trip!

When they moved out, there were over two dozen cigarette burns, and numerous dark stains.

It isn't a WAR ZONE and no crimes have happened against the home, just I don't feel comfy ya know.

You should be able to get the top market rent for those, unless they are in the war zone.

I've seen numerous examples where various folks try to make a bad deal look better by throwing in long term appreciation.