Here in the towns I'm in (smallish illinois suburbs), you can buy a 3/1.5, 1400 sq ft house for say 190k (retail and rental ready) and rent it out for 1750 to 1850 all day long. 

You also much report the lease termination to the housing authority.If she stays past the lease due date, you will need to evict her.

When one person moves out, their private bathroom and bedroom is cleaned, but I don't have the shared space cleaned.

Howdy Irina,I would personally be cautious linking my primary residence to an investment AND participating in (what I assume would be your first) syndication deal.

I grew up in Cleveland and personally own a S8 rental.

Who would pay $4,000 rent to a $200,000 house?

I'm past middle age and I would like to purchase a duplex to house hack in a better neighborhood.

But the city has risks too: historic tanneries, dry cleaners, gas stations, garages, workshops, any kind of industrial use - always be suspicious of what people did with chemicals back in the 50s and 60s when the general population had no awareness of the damage I just had to turn down a small development  10  house's or 20 detached as phase 2 found chemicals for the Filbert orchard ( Filberts are hazelnuts ) that was planted 30 years ago.the soil had to be dug down 1 to 2 feet analyzed and hauled to special dump at 3X normal dump fee's.. there is a reason why we do phase 1 and phase 2 and just dont buy this dirt and take on those liabilities.. now to be fair this is for lending purposes is someone want to buy it the county / city would not require the phase 1 or 2 but you take on going risk of someone suing the pants off of you in the future.

The flip side I've noticed is they're usually personally guaranteed which may or may not be a deal breaker for people

I sold all of my CA properties, moved to the Memphis area in 2019 and purchased many houses here.