4 years at the same rent seems like the previous owner never raised rents or the area is depressed. 

Millionaires were made during the depression era and they certainly didn't look around and throw their hands up.

They neglected the possibility of regulation, and they neglected the possibility of an oversupply depressing prices.

@Andrew HolmesHere is how I run my numbersVacancy = 1/months rent (i know you use two year leases)$50/m (light due to rehab, this is for basic calls such as leaky faucet, door not working, etc)$200/m (30-year breakdown of major items, however I have thought of re-investing this capital into the next deal)$42/m ($500 per new lease once a year)My plan is to have $10,000 in reserves per property upfront.

If rents are depressed in your area, can you get enough rent to cover the cost and still make a satisfactory profit?

Urban sprawl also depresses property prices and rents over time because people can always move further out and buy or rent less expensive (and newer) properties.Non-Coercive GovernmentEvictions - You must have the ability to cost effectively and quickly remove non-performing tenants.

That's an extra $9,000 being left on the table, but not sure if that's of major importance to you.

For example, Ontario is a growing area, likely to surpass Los Angeles in near future growth because of the availability of space, an international airport, and the crossroads of major freeway corridors.

As a result, this is putting immense stress on her and the overall relationship.I called my dad the other day asking about what his plans were for the holidays and he told me he was depressed.

@Pete Barrow when we hit another 10 year depression where unemployment is 30% and 80% of the value of all the publicly traded corporations in America is wiped off the board over the first three years.....going into foreclosure on 2 properties is going to be the least of my problems.