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.

Therefore, even if I obtain a good value for the surface yield, it's possible that the Net Yield is unexpectedly low due to unexpected expenses.In Japan, the ideal yield varies depending on whether the property is new or used, the bank's interest rate at the time, and the real estate market conditions, but if the real yield on any property is 10% or more, the property is reasonably profitable and the cash flow is sufficient in many cases.

What is the condition of the units? 

This could be attributed to the higher quality of life, better schools, and overall satisfaction with the living conditions in the more upscale areas and there is no thing like 0 vacancy. 

I think most insurance companies won’t cover long-term damage like conditions that promote mold, so read your policy thoroughly before contacting them.

Make sure you don't get talked out of things conditions (ie inspection and financing-unless you are paying cash or know enough to do the inspection yourself).

For analyzing markets and deals, do that on my own, getting familiar with one market, looking at the prices and conditions, etc.

Could well be a puppy mill, but enforcement about conditions there is sorely lacking due to lobbying by AKC and also lack of funding.