Learn a LOT about investing out of state.Research the market you are going into and figure out the best markets.Make connections in those markets and vet those connections.Save up more money and move up from the war zone and go to a $30,000 to $50,000 minimum market where there is less crime, less vacant lots and vacant houses, where the police will actually respond to a call from a homeowner, where there are jobs for your tenants to work at, where there are schools for your tenants to send their children, where there are real grocery stores for them to buy real food (not gas station or fast food).  

Office buildings...Would it be good for fast food or bank where you could land lease them the property and they would develop it and your colleague would just sit back and collect check.As you can see there are a bunch of scenarios you can throw out there but it all starts with the zoning of the property and what is allowed under current zoning laws unless you wanted to go through a zoning variance proceeding.

Appreciation does not pay the bills or put food on the table.

You want a product as food or better than the homes you are using as comparables.Without seeing your project I'd be very tempted to gut the exterior walls at least so I could insulate.

Necessary Cleaning to get unit back to move in condition, all at a rate of $18.00/hour: Remove cat food from carport, attracts rodents Total Cleaning Cost: $9.00Total amount to get unit back to move in condition: a.

Food is always an important thing when I am looking to travel to a new place so  that played a part in the decision making as well. 

My wife and I feel electric is more dangerous because the surface could be hot long after you turn it off and you are more likely to burn food because you cannot control the temperature as well.We see valid points on both sides of the argument so would like to know what you all have in your rentals and for what reasons?

I am very lucky because I have zero debt and no bills other than phone and food since I decided to get rid of my car I have no expenses now.

There is a Whole Foods in the area, that says something.

water and food shortages, public transport etc etc etc....have some compassion and make some temporary concessions on being a strong businessman and landlord.I would basically give them a one time "get out of jail free" card for late payment.... make it perfectly 1000% clear that this is a one time deal due to extreme circumstances...don't try and push it or there will be an eviction started.If they have been a good tenant and have had the respect to give you the "heads up" that they were going to have an issue paying on time, that counts for something with me....I know this is business and when you give an inch, tenants will often continue to push the envelope and take a mile...if they see you are "soft" they will exploit it.....but this is an extraordinary situation that just doesn't fit the rules.......