Most families receiving this type of assistance stay in the rental for an average of nine years, plus the government sends you a check on the first of every month for full market value rent.† Check your local housing and development authority for opportunities in your area.† Many cities are offering incentives to investors interested in certain neighborhoods so check with your city planner, neighborhood associations, and government agencies in your area to find out what may be available to you.† As with any purchase these days make sure you buy the property at a low enough price that a temporary rent reduction will not eliminate your cash flow.Offer the property for rent for $500 a month more than you actually need and advertise that discounted rent available to qualified renters.† In this case you offer to reduce the rent $500 a month if they agree to take care of any problems with repair costs of $500 or less.

Last REO I looked at (in absolutely terrible condition, but in a so/so neighborhood) sold for well above what the bank had it priced at -- because a torrent of flippers bid up the price!

Shortly after, I heard racist comments about me, asking why a "white boy" was in our neighborhood.

Until then, I'm driving around the neighborhood this week for more potential properties.

I can investigate suspected causes; such as: toilet or faucet leaks, unapproved (by me) neighborhood Laundromat, use of outdoor spigot to fill children’s pools, leaks in the piping, etc.

Bad neighborhoods require more cash reserves.  

., what if the neighborhood goes bad or they find the next Love Canal under your MFH?

Direct mail, bandit signs, yellow page ads, newspaper...First, I see a lot of people saying they don't want to waste money on marketing.

And what this neighborhood is really like.

I am like you, even before I was an investor, I preferred to drive around a neighborhood and find listings, and call the listing agent directly, and make an appointment to see the house.