My recommendation is since you'll be living there make sure you can at least tolerate the area so you enjoy life while living there, still try to get a good deal but it's worth remembering that you are reducing or eliminating your rent payment too.

So my combined reserve for all 14 units is less than three months of rent income because I have a higher tolerance level.

I think where you should start depends on your personal financial situation, experience as an entrepreneur, marketing skills, risk tolerance and personal goals: For example, a person with very limited financial resources and strong marketing skills might be best served starting out as a wholesaler or real estate agent.

This is our first time working with low income renters and my partners are unsure what kind of histories are ‘tolerable’ and which are deal breakers.

I know it's a personal decision based on risk tolerance, goals, etc., but interested to hear what others (other than the 25 or so people at the end of each chapter - which was awesome by the way) are doing.

You can analyze if it's "for you" depending on the level of risk tolerance and how you feel about the specific deals.2) There's a motto that works with this day and age, and that is any unit can be rented the only variable is the price.

One thing I've learned is never terminate a good tenant just because you think they won't or can't tolerate a big rent increase.

no lender wants a 75% completed building back or a foreclosure.. some lenders wont give a rip others will try to help you.. usually by cross collateralizing something you guys own to keep their equity in tolerance.   

Location is such a personal decision, based on the types of properties and tenants you want, your level of risk tolerance... it varies so much!

Let that be the motivation for anyone on BP to always keep going even when no one wants to lend you money, there is always someone out there with the risk/reward tolerance to lend.