Oh baby, Cancun! 

There has been dog mess and trash (liquor bottles baby diapers, etc.) under their back porch, all over their back yard, and in the alley. 

But vacancy rates doubled which wipes out your profit to the point of negative cash flow territory if you have a newer mortgage with a higher rate.The number of inquiries have gone up exponentially but the number of qualified renters have gone down exponentially.

Just as a side note, that one of ten is enough to wipe individuals financially out if they flipped on their own, taking away all profits in the previous nine for all practical purposes. 

Towels get used on the shoes, fancy cutlery goes missing, no one wipes their feet, wine stains...

You will get an alert and then you are looking at your friend's baby.

Paying 12% would wipe out most profit for me

You can wipe out your income taxes.

I would have no way to stop the Bank foreclosure during the HOA redemption period and could get wiped out. 

You qualify as REPS already, so any rental investment can wipe out your taxes.