Even if they don't pay the max, they will counter with what they will give you and you can take it or leave it.If you list too low, you may be leaving money on the table so let them counter.

Damon That's the rub with low income tenants.

But I'm guessing maybe your credit is too low for that?  

It's a low barrier to entry and a good option for you, I would highly and I mean highly recommend you focus on location.

I don't know how that business could survive long-term with such low rates.If those numbers are accurate and you can net $38,000 a year, then it's worth holding onto.

I am not opposed to the idea but definitely need to get more educated on the details such as where exactly, is it too crowded of a space, how to be competitive, maintenance requirements for a beach rental, etc.

Dumb Debt also means that the owner takes on recourse debt and personally guarantees it instead of non-recourse debt or other people’s debt (OPD) or cross collateralizes it with highly appreciated assets with low debt to value ratios.

Less than 10 minutes and they are done.Self Managed, Low Volume - these folks collect the same rent every month, have minimal expenses beyond their mortgage and find it very easy to collect the few documents they have to report it. 

Are you looking for steady, low-risk passive income now, or are you comfortable taking on more leverage to scale faster?

Lots are just drawn to the low purchase prices, and buy based solely on price.