It is encouraging that a few other "out of staters" have come to the same conclusions that I have and hopefully where there's smoke there's fire. 

Why wife is good at finding bookings using Priceline and found a decent motel, but tenant said other guests were smoking there, so she checked out. 

@Francis Dinh  I pulled up the TREC out of curiosity, and thinking your agent was blowing smoke about reimbursing your damages:B.

I do most investing outside the city in delaware county, but i would think there is an inspection they do yearly as a run though to check for smoke detectors and things of the like. ( at least that what they do in Delco ) when they are due, you'll know for sure

One example recently, I had an issue with a tenant breaking multiple house rules (smoking, party, extra guests, late check out) and causing damage and excessive clean up.

(Smoke detectors, window placement, exits, etc.)

Like Non-Standard Rental Provisions, smoke and carbon monoxide agreement, etc. 

They lost the smoke detector.  

Charlotte is a smoking hot market market for MF investing.

The loan is 40k (AKA 40% LTV)Step Four: 52k in the bankStep Five: keep doing the above18k per year for 28k gives a 0,64 GRM; congrats, that's the kind smoking deal i have never seen in real life; maybe in some rust belt cities, but you'd still have to find decent tenants, and they wouldn't pay 1,5k a monthHowever, the net operating income would be better used in this caseCheap properties tend to have as much or even more operating expenses than more valuable ones, and you still have to take vacancies, high property taxes and the 12% for your private lender in consideration