Lower end tenants won't care, but will also be more likely to destroy the Formica (it burns, peels from water infiltration). 

The market there is hot and finding fat deals may be tough to do.

So when the person we bought it from failed to make the rent payment shortly after we rescued them and they do most of them do anyway.. we could go in rehab and resell and make our profits. of course we are talking about 200 to 700k props. no 10 to 30k distressed mid west assets.. it was usually 20 to 50k just to bring them current. no equity sandwhich is a big FAT loser long term.

@Max Martin I agree with @Matt Burns here. 

At my call rate I'd burn through that in a week.

Of course, if one house burns down and kills the family and one survivor sues for $10 million, you could loose all the assets of the LLC.

If you can't my suggestion is to not burn any bridges with local realtors. 

Unfortunately you have to be nice to all of them, because burning bridges with agents is dangerous in your business.

I have seen people get burned that way.

Here's a photo of a family members house, just as it was being rebuilt from being burned down last summer.