It is a business of cash flow and that's why many of those in California that were sold in the past 6-7 years went belly up because the numbers simply didn't add up.SFRs on the other hand, are a better comparison since they have a broader maket.

I also have a nice fat $80K HELOC that I use to help fund investment purchases as needed just by going and asking for a check then paying a modest 2.25% interest only payment while the money is out (nothing when it isn't).

When REMAX Greater Atlanta went belly up, I remember one of the agents I knew had $25,000 of commissions he couldn't collect.

Am I being fed a big fat bologna sandwich or is it actually possible that they don’t keep those records?

Now instead of allowing your rental to go belly up with a large claim, it is better to purchase adequate insurance to cover yourself. 

Let me put this into perspective for you…Imagine standing in front of 1000 people that haven't eaten in 41 days, while holding up a juicy BLT chicken and tuna sandwich dripping in bacon fat, and say: “Who wants one?”.

Quote from @Michael Bell: Is Las Vegas a good location to purchase buy and hold properties? 

Ive got one...i am paying my mortgage every month...anyone else financed via sub prime? I am supposing that many here do...due to self employment, etc...

I can remember a time when HUD homes sat forlornly for a while; no longer.My youngest son just purchased his first HUD (will close in several weeks); plans to work on it, live in it and when the time period required by HUD has passed, turn it into a rental and move on to invest in other foreclosures, hoping many of the new investors have gone belly up (or mom has now become so senile he gets all my houses).Gail

Probably Iowa area as a preference, as they don't block muni networks, so really small cities there can build out fat pipes to the internet to attract telecommuters that need lots of bandwidth, but want small town population density, and short drive to 3 larger cities if you want to still have the occasional city experiences.