I have seen a person in my neck of the woods over the last 30 years take advantage (including the family that does not want to take care of him) of unsuspecting landlords.

I hate to think about all of my hang ups moving into another unsuspecting landlord's property.

@Carey GattoThis kind of ROI claims are have been used in the past by unscrupulous developers and promoters alike to sell to unsuspecting foreign buyers.

2005,2006,2007You NEVER go buy actual retail leasing rates for income when purchasing.The reason is the income levels they are reporting have lease rates many times that were written at the height of the economy and everything was booming.These leases are now coming up for renewal or very close.Now many of the tenants are leap frogging to better locations for the same per sq ft rate they are paying or are asking the landlord for rent reductions to stay.So even when analyzing the income and tenants pay on time as soon as you purchase they might be moving.Sellers like to dump things like this on unsuspecting retail buyers.It is fine if you base your purchase price not on what the current lease rate is but what rate at which they will stay and be able to pay and the seller will not tell you this.

The unsuspecting buyer sees the trailing laundry income on the income statement and counts it when valuing the income stream, then after closing realizes that there is no laundry income anymore.

For a start up I say NO absolutely not, because REI itself has more risks than the beginner can imagine, and adding risky properties to the mix makes it exponentially harder to the unsuspecting investor. @ Aaron Yates Said it pretty well, but lets remember that low income Detriot, and low income Beverly Hills are 2 different types of communities.

I'd like to infiltrate one of these posers, pretending to be an unsuspecting tenant and showing up with a cop.

Many times service members are unsuspecting landlords/real estate investors which can help propel them into intentional REI.

@Colby Jack Miles ..Also consider asking for referrals..found out about PM in the area that was doing shady business and keeping money of unsuspecting owners....

It sounds like bar buddies bought this and now it is turning into a larger headache then they thought and they want to dump it onto an unsuspecting buyer.