In the past I've seen glitters that were really hard to clean, random painting every where etc.

@Kitty Louie Where are you located?

All it takes is one bad cat owner that lets their precious kitty crap and urinate everywhere.

Investment Info:Single-family residence buy & hold investment in Kitty Hawk.

What I will do is give you an illustrative story, and maybe you can bring your knowledge up a little.Big Apartments LLC - a manager managed LLC with two members.Member #1 is You (Patrick), the Manager (and also a Member), you have put $500 into the LLC and own 50 Membership Units (a 50% owner).Member #2 is your brother in-law (lets call him Richard Smith) he is not the manager (although he could be a co-manager but is not because that's the way you two want it).Richard has also put $500 into the LLC and own 50 Membership Units (a 50% owner).You two guys are 50/50 owners of Big Apartments LLC, evidenced by your Membership Certificates (which look a little like old fashioned stock certificates but are not stock shares).The company has $1,000 in the kitty and since Richard won at Poker last night he's flush with cash, $1,000.You and Richard agree that he can lend the LLC $1,000 (that's in addition to his already put in $500).Since this is only a loan it does not effect his ownership percentage of the company.

My name is Kitty Jedra, and I am a newbie at BP. 

Quote from @Kitty Horeis: I am new to this.

@Dana TenebrusoHi Dana - we own a rental on Beach Rd in Kitty Hawk.

We have a cottage on the beach road in Kitty Hawk. 

Douglas, Like Elisha stated Rent minus mortgage does not equal cash flow.don't forget to factor in PITI (principal, interest, taxes and insurance) as well as kitty for repairs (50% Rule).The main thing I see here is that yes, low income housing can be acquired at very reasonable prices and from my experience, they will cash flow well....However....keep in mind that you will be dealing with different types of tenants as well.