OF course this is what your going to get when you have super cheap houses with high rent ratios as we all know those are also the most risky.. the most stable markets and the safest markets are in this metric the worse markets..A neat graph or report would be to see tenant defaults in a given market ...

Rent it for a year or five, then sell it assuming that stable ~165k price (not banking on appreciation)  If I did it like this I would have $400/mo (not counting capex) for that time.C.

Boise is a stable marketHope that helpsGarrett

I have not yet been able to quit my day job, however it is very flexible and I am able to continue to have that stable income while I build my real estate investing portfolio.I am looking forward to meeting other members here soon!

Sounds like you want a nice, safe and fairly stable area.  

We're more stable/appreciating but that also means less returns for rental properties. 

I have a little bit of money put aside and I'm finished college and have a stable job now, so I'd like to invest it in some property.

If you will keep it as a rental, try to buy a place in a decent neighborhood where your future tenants will be stable, and not  move around every one or 2 years.

As mentioned above, I would work out a gradual repayment plan.In the unlikely event this fellow has a stable income and any assets of value, you and your tenant could take him to court to recover your costs.

We use the kind of shelf liner that is labeled "removable".