@Tariq K Frantz what often gets overlooked about these asset classes (and what Sam Zell relates to) is the long term success they are capable of creating, simply due to their intrinsic characteristics. 

We were all flying high for a good number of years, then the number of str's grew so large that the locals lost their minds and started fighting tooth and nail against us.

Anything excessive could backfire on you and it's what causes tenants to fight you in court rather than move on. 

That profession has many veterans and some of them would fight you for position.I definitely would recommend a BRRRR strategy and tell you to be wise with your money when making repairs or doing rehab. 

I'm a student in my last year at Texas A&M University,  and as you can see by my subject line, my current mission is to fight and scrap my way into the multifamily industry from the start.  

I have settled litigation myself, and my clients (when I was a litigator in Texas) have settled lawsuits by writing checks for things when they weren't liable, but it was cheaper than paying the lawyers to fight about it.

It is indeed too much to be done to any property in this area, but I have the capabilities and was going to move into it myself so I thought, why not?

Make them fight LOL.

If you must file an in rem QT because you have unknown heirs, or can't find former owner to serve papers on him, then taking it to a judgment will cost between $3,000 and $5,000 IF nobody puts up a hard fight.

IT WAS IMPERATIVE that we moved IMMEDIATELY, and that I got him settled because he is losing his capability of walking, he has dementia, and so much more, and I needed to move to a facility where it would be Wheelchair friendly.