So work has afforded me the means to invest.

I bought my first house that way and couldn't have afforded the down payment without FHA.

I still have to run my numbers though because sometimes even that is too high.I also know an investor in areas like romeoville where they could actually afford to pay 80% of the ARV and they would still be making a great profit.

Literally, it went from super high tax to super low next day.Prop 13 is a huge reason why families could move up, without it the taxes created such a burden that one could not afford to move or improve for fear of getting taxed to death.

Only one current tenant is a poor housekeeper and that has nothing to do with their low income/Section 8 status.The key is, when you provide affordable housing (or any type of housing for that matter) you need to reduce your risk.

Then, lease option it back out to him at a much cheaper price so he can now afford the payments.

I feel that reason alone is acceptable for me to break a lease I understand your frustration.

Now, some things might be different here so I would guide you that DEPENDING ON WHAT LOAN YOU ARE PREQUALIFIED for....will determine how much you can "afford".  

If you can afford it without losing too much momentum on your other investing it might be worth going for.

Any place you could afford to buy just starting out would probably not be the kind of location that would ensure the success of your store (high-end shoes require high-end buyers, who will not be hanging around in low-rent areas, right?)