It didn't work for me or anyone I personally know.And I'm not surprised you sold it, as you indicated in a later post.I think people who buy rentals out of state or area are nuts, and I seriously doubt any of them make any profits.

Hey Nick,  look on YouTube at The Fruitful Investor, he's a young man from Ontario, Matt Piche. 

When I questioned her about the kind of noise, it was just him walking around that drove her nuts. 

You can think and make decisions for yourself and he knows that, and he doesn't mind either, unless your thought process is nuts and your wasting his time.Maybe just look straight at him and say "Really?

It can be years of nothing but the easy life collecting rents, no turnover, sipping rum fruit drinks with bamboo umbrellas on tropical islands.... and then BAM!

If on the other hand you buy in quality neighborhoods with high rental demand, then high quality properties attract high quality tenants that are willing and able to pay a higher rent to live there and your screening job is 90% complete right out of the gate ... still need to reserve 10% because there are nut jobs and basket cases applying to rent occasionally in any market, but then if you have a line of otherwise qualified tenants also wanting to rent your property as you would in such a neighborhood then it is much easier to tell them to "GTFO" as Amit M. so eloquently put it :)

Plain and simple you are unbolting 4 1/2 nuts, a fuel oil line, and 1 14/2 wire and replacing the burner with a gas burner.

I'm not sure why this discussion degraded into a cap rate vs comps fight.I'm going to be as straight as possible and say that anyone trying to do what I'm doing is nuts!  

Growing a high yield fruit tree is different from harvesting it.

I know it sounds nuts, but it's the only way I can make sense of it, as it really is feeling as if popularized media almost wants rent strikes on scale, is hoping for such a movement.