The other cost is turnover and then vacancies during the mud season when there is no skiing or hiking.

You only have to look at this thread to see how many people are stopped in their tracks by this issue.The only issue is to get the property at a price that reflects it's undesirability with all the utilities as one.

The properties under $1mln are undesirable unless they can be improved beyond $1mln.  

Knowing what to look for now....mud tracks, dirt on the sills he should have caught that.

@Curtis Fergus, in your experience, is finding good cash flow also difficult in low-income, or "undesirable" areas?

@Brandon V....Depends..If it's a settling issue,(small cracks) repair with mud, sand, paint...probably just a cosmetic issue..

They all chose to change to our agreement.There were several undesirable tenants who most likely were placed without proper screening.

That will help tremendously and minimize the riff-raff and undesirable troublemakers.$1400-$1600/mo seems to be the sweet spot for similar rentals in that region.

At this rate, I wouldn't be able to finance another property for a few years, which is also undesirable.  

Drywall mud falls off corner beads without too much prodding - all it takes is a good bang with a piece of furniture.