There are many people here who will argue that appreciation is the icing on the cake, etc, etc, etc.

"the last melon" (Ice Age).

We had an ice storm in Austin back in 2021 and suffered a burst copper pipe above the kitchen in one of our rentals, doing significant damage.

If you can make money while you're still in the property that is just icing on the cake. 

I've seen scorched walls where tenants miswired dryers, destroyed floors from malfunctioning ice makers, floods from washer drain hoses not attached properly, and other similar things.

Not much to do here except watch the ice floe move back and forth on the lake or watch it freeze all the way across. :)

If it helps gentrify the neighborhoods, that is icing on the cake.Cheers

They can get iced in up there and it's just not worth the drama.

In this thread I answered a question from a person that found a "good deal" in a bad area.http://www.biggerpockets.com/forums/88/topics/191151-first-rental---4-rule-quick-opinions-neededOriginally posted by @Richard Dunlop: Drive there in a Black Escalade with 24" wheels and see if the neighbors come running to you like kids to an ice cream truck.

*I am in the greater Seattle, WA area so I don't have to account for snow/ice removal as you may.Hopefully this helps you.