Thanks @Chris Seveney @Joshua AndrewsTurns out this property was just sold at a tax sale a couple weeks earlier when I called to verify outstanding taxes. 

Borrower has outstanding federal tax liens, judgements, code enforcement violations that are not paid, etc.

are they delinquent (which would create a tax liability for you), how much will your insurance be and more importantly are there any outstanding insurance claims/liabilities with the current owner? 

From a business viewpoint, your rent will be backed by your state government, but I can see 6 teens doing serious wear and tear, especially since many kids who have come from the foster system are not always outstanding citizens yet.

I perform the exit walkthru a day or 2 before lease end giving them a chance to rectify outstanding issues.

I would rather see the newbie go to a large OOS city with some tech than go to Imperial County.I can show the historically outstanding return of the San Diego RE. 

However, those same areas, if you can buy at the right price, are outstanding for flips, because there is such a dearth of inventory.In this market, I'm focused much more on ROI than the 70% rule. 

It seems the combination of Millennials seeing some of their parents experience the real estate crash as well as over $1 trillion still outstanding in student debt is having them delay the decision to buy.  

The amount of interest is the annual rate divided by 12 (i.e, the monthly interest rate) times the outstanding balance.

It is an outstanding book