If the market rent is $100/month higher and the homes look more like the one in the background of that picture instead of the foreground it could be decent.

If they have been there 20 years, they are probably decent tenants.

So far, they have held up just fine, so I will definitely stick with them because they are so much less messy and because re-seating a toilet is no problem whilst you only really get ONE shot with a wax ring.That said, of course, it will be a very long time until I can truly comment on their durability vs. a wax ring since those often last many decades.  

You will need cash and decent credit for sure but you could add a partner to fill in if you lack in one of these departments.

Long term goal is to have a 20+ door portfolio but a $40k shot in the arm (after 1.5 months) is very appealing.

I checked  www.furnishedfinder.com and see bedrooms or casitas renting for $1500 a month in decent neighborhoods.

It will however gain equity which is pretty decent in my market. 

@Stephen DeFalco - Sounds like a decent deal. 

The property is in a “war zone” and hence worth 25% of what it would be worth in a decent location5.

I don't have anyone but myself to take care of so I am able to put a decent portion of my pay into my savings account.