(Sometines using a conventional loan) Short-term pain for long-term gain2.

I feel your pain when it comes to the high cash flow, but low appreciation and potentially high maintenance properties.

The city has been undergoing a major revitalization over the past few years, and there's still a lot of opportunity to get in at reasonable price points.

A little bit of pain now for prosperity later - thats the motto with this game haha! 

Checking in with the BP public on this...wife and I just bought and moved into a SF this May at 6.812% and the monthly payment (4319 all in) is pretty painful.

Many mid term travelers are families relocating to the area, displaced families (homes have had water or fire damage, or are undergoing extensive renovations, eg), international business travelers, families from out of state visiting their family here for a few months...all types.

Permits are a pain but liability for a poor renovation is brutal. 

Glad to hear they are metered separate, always a pain when not.

Problem TenantsOne of the biggest pain points for landlords is dealing with tenants.

The biggest challenge I can see for this is that I hear it's a pain in the *** for the seller to go through a local community bank and confirm their income for their approval for a mortgage, and there are local/community banks that will approve 95-100% LTV loans based on how profitable the deal is.