It was not intentional to buy in these areas, but because I work a full-time job I wanted as little drama as possible.  

It hasn't proved to be a big deal, but periodically you get pulled into some minor drama that never happened in my SFH rentals.Other differences:MFH tenants expect a higher level of service (its like they don't own a single tool).

luck of the draw.. you get a tenant that moves in is clean neat and stays 5 years your PM is a hero.you invest in what many do these days and that is in heavy rental areas and tenants move around they do damage they don't have checking accounts they are on assistance. the list goes on.I have had A class properties destroyed by what should have been a great renter. but I am with @Jason Hirko  for me personally I could not think of a more thankless job.your dealing with renters who have issues and drama.. and the only time you talk to your owners is when something bad happens.. and your owners think you should jump through 7 hoops for the 80 bucks a month they are paying you.. man  its a tough one..

The wear and tear on the place would be harsh, and yet to bring in the right renters, it would also have to be high end. 

By the by, I probably come across as harsh and I don't mean to.

update - thanks for your advice gentsI was able to simply back out without drama based on the fact that there is no JV agreement without closing on the sale.

It seems like everyone in my life has an extremely harsh opinion concerning REI.

Both quotes, although a bit harsh, are deadly accurate.

With perfect credit and no drama I am glad to have my under-rented  super long-term tenants.

REGULATOR that one cost me 30k. and a cease and desist from the state. and a lot of drama and stress.each state is different I have done quite a few fundings in your market wholesale is the norm on contracts in low value asset IE cheapy 20 to 50k homes. that need work. no doubt.