Of course there is always risk, but if you buy a good deal you should be able we weather most storms, figuratively speaking.Best of luck!

Do you have the capital to weather the super slow seasons if you have them?

I put bait stations like this: https://www.amazon.com/Mouse-Stations-Scented-Outdoor-Indoor... and fill them with bait like this: https://www.amazon.com/Tomcat-All-Weather-Bait-Chunx/dp/B000...As long as I keep the bait stations full, the mice never go inside the house.

I reviewed other market conditions (population growth, median household income, etc.) and I ended up passing up on this deal since it didn't have a population growth over the past 2 years. 

As older generations pass down wealth, younger people may find themselves in a position to afford homes, counteracting some of the affordability issues caused by market conditions.

Understand that you are no longer in traditional real estate/landlord business that you are in hospitality business weather you like it or noe even if someone else is managing the property.

@Dale K Poyser After doing further digging, I noticed that my neighbor's duplex (same size, condition) is still on old assessment and it wasn't updated but mine was.

Quote from @Chris Seveney: @Josh MyrickYou technically can but if you start the non profit typically you cannot be an employee or make $ from it, and profits should be reinvested in more housing.If your goal was to profit in any way, the answer is no  Yea, the goal is no profit or it be reinvested in more housing or improving the current rentals for better living conditions for tenants.

I see people buying rentals in my area for 3,7,8% COC return and the houses stay in poor condition because the landlord has no capital to spend on repairs/improvements. 

@Elena Scott I understand you're based in Pittsburgh, and rental conditions might differ from Texas.