@Ryan Moran Every time here is a vacancy, will there be a queue of applicants desperate to to pay $450/m to get into your 550sqft (quite small) unit?

That's a flag in my head that shows they're desperate to make something move with the propety.

Personally, I look for DESPERATE sellers, because you MUST buy rentals at a big discount to market value if you want them to cash flow.

Be prepared and professional, but not desperate. 

In truth, feeding a property is not the greatest situation in the world and if your appreciation projections are off (which is likely 5 years into the future) you might find yourself as a desperate seller in a few years.Feeding a property  (also referred to as "negative gearing") can make sense if:- You have sufficient cash flow from other sources like a job where a large repair bill won't sink you- You are converting a home into a rental in which you put little down for a FHA or VA loan (as examples)- You are undertaking an expedited paydown of the mortgage to enjoying a better cash flow downstream (perhaps aligned with a retirement age)David

There's a reason they are desperate.

Granted, there are people that are desperate, but I think it'd be best to tell them that and see whether they are interested. 

if they move in december, you'll have a smaller rental pool. you could wind up having several months of vacancies & renting to someone out of desperation & they screw you over. i agree that few do leave in the dead of winter but why take the chance?

I have been looking for sometime to buy multifamily/apartments 20-100 range.Live in Texas but market to hot for cash flow.Can’t rely on appreciation alone and buy at 5 caps.Out of desperation even looking at Chicago; the cash flow seems tempting in the 9-10 range.Obviously areas like Gresham, guess very high crime and can’t even walk to see property you own.Is it unrealistic to think that you will have Mgmt run the apartments and you just take the cash flow; and have nothing to do with it?

These folks sound like those type of tenants desperate to move in so they can play their game with an owner.