I have run across this once and the kids toughed it out almost to the end.

You'll also have a tough time finding a property manager willing to handle the property at 10% (because for $30/unit/month it isn't worth their time anymore than it's worth your time).The other probable reason (as stated by others) is utilities.

In NC at least (and apparently not some other Deed of Trust states) a foreclosure sale must pass through the Special Proceedings Division of the clerk of the superior court.

Third level is getting the perspective of the local folks in the trenches: Property managers, lenders and loan brokers, RE brokers who specialize in multifamily.

In a word, tough.

But they wanted to be able to buy a home in the near future.Again, I said no, the turnover month was just too big an obstacle - even though I knew it might be tough renting a house during xmas and new year's.The guy then countered me and said they would do a 6 month lease with a month to month option after that and would pay an additional one month of rent to cover my turnover month.

Great job.Locate and attend the local landlord association meetings great place for info and resources.In apartments you might consider Niche or Specialized Housing like student housing.

For a cash flow investor it is a tough market to be in.Since prices and rents are so out of whack since people are investing based on cashing in appreciation you really have to find the diamonds in the rough to make any real returns based on income.Since the appreciation play is a big one I would shy away from buying a nice place in a rougher area if you don't think it will turn around.

In the commercial world, tenants are business people, but with a special point of view.

If you are looking for appreciation yield in this category in those areas it might be tough.