I bought a property in an undesirable neighborhood.Nevertheless, I insisted that we wait for a renter with good qualifications.

Ben Franklin said that an ounce of prevention is better than a pound of cure!

If you are truly driving for dollars then pounding the phones for 2 hours every single day I cannot imagine you not having success but make sure whatever you decide you do it everyday. 

Although there have been some retail improvements there, there are plenty of undesirables in the area.

I had already purchased an Atari 800 computer for $2500, then a Commodore for about $10,000 with an external hard drive and a Compaq portable computer for about $3500 that weighed about 35 pounds and was the size of a sewing machine in entirely covered with a plastic case.

When I was at the auction a bidder was buying vacant lots, land locked lots, & undesirable lots.

2% to 8% is possible but is usually going to be in undesirable neighborhood.

In reality, most high current income property investments are located in undesirable areas, either war zones or areas with declining populations.

It is like selling a slimming powder but you have to follow a certain diet/food restrictions, if you remove the powder and just follow the diet/food restriction, you will still be at the same outcome, maybe +/- 1 pounds after 3 months, but you save on the powder expense.

Don't be penny wise pound foolish.