Sure there is some interest expense involved but you are getting the time value of money pretty cheap at today's sub 4% mortgages.And this scheme is trapping your hard earned after tax money into an illiquid asset. 

It's usually not a lot, but I've had to replace a broken office chair that was only 2 years old, had better quality bed pillows been switched with cheap Walmart ones, and had a blanket go missing. 

Someone contacted me once that my listing (all my photos and property) were on Craigslist at some dirt cheap price.  

The only thing that saved us is that we bought them cheap but our exit price was not nearly in line with what we thought we would get.

Cheap is expensive is a saying you hear which is true.

He is a very connected person and can get all kinds of interesting supplies very cheap and is willing to truck some our way whenever needed to come meet us in person and learn more about what we do....networking is always invaluable....Again these are very large returns because we are connected to a program that allowed me to fill in the holes in my knowledge easily and quickly.

And anytime you have that cheap of lots that are buildable you can get a building boom that will far surpass normal absorption liike what we are seeing now or saw what 3 years ago  or so.. builders / GCs taking on 50 jobs at once with no hope of ever being able to deliver simply not enough subs and such to keep up.  

A lot of the flyover states have cheap houses/2-4s but junky tenants and lots of cap/ex. 

", if you can be thoughtful and diligent and very skeptical, and wait until things are obviously cheap, you will generally outperform 90% of other investors. equation {Buy low + decades} = RichGet a hold of someone on the phone, about the investment, ask a few questions and get their best contact information.

Repairs and Maintenance are not cheap and shipping carpet/furniture/etc to Hawaii calls for huge price premium so I would be sure keep a reserve for replacements.