@Amanda Bradley Tenant sounds like typical Class C with a credit score under 620.How hard was it to find this tenant?

The book on rental property investing : Brandon Turner I picked up The Book on Rental Property Investing!

Every flipper has found themselves at Lowe's for the fourth time in a single day, picking up yet another piece of material for a project.

If I had to pick a place to put a STR, it would be far from there. 

Let's assume that the neighborhood is a C class and the median income of the city is greater than 3X of the market rent.Here are some of the considerations I've come up with so far:- Units are in need of renovation and capex is too high or not available- Unit quality is not the same as market - Seller is worried about losing tenants due to increase- Vacancy rates are high or filling units have been difficult- Rent increase would take multiple increases over multiple lease periods to get to market rate if seller is trying to retain the same tenant- Seller inherited property and just want to liquidate- Seller needs to liquidate quickly (financial burden, sickness, quick exit from land-lording)It seems like I might be missing a warning sign about a deal if they are selling with current rents that are under market; but again, this seems to be most of the properties I've underwritten.And in the same vein, what should I be worried about when purchasing a deal with under market rent with the intention of raising them after purchase. 

One of the smarter recent strategies is the owner is living in the ADU and renting out both levels of the main house on AirBnb.I invest in the Bay Area and Indianapolis metro area (Class A suburb and Class C).

I know the area like the back of my hand and believe Indiana has tons of upside to invest in.I came from a low-middle-class family of teachers.

Municipalities either want Class A multifamily, or 2000+ sqft homes on .25 acre lots. 

Your property is fairly destruction proof, costs near nothing to maintain, yet you can charge above market rents.If your property is nicer (class B) where the carpet alone might be $6k or more to replace when the tenant spills hair dye everywhere, you won't be as happy as in the situation above.  

He left his belongings inside and later texted his intent to pick up his stuff.