The only real disadvantage is there is a governing body to answer to if you're into shady business practices.

When talking to neighbors, I’d say you’re thinking of buying the place, make some polite small talk to break the ice and then work the dog barking into the conversation as naturally as possible.

If you decide to go down this path, do not forget to draft a letter specifying that both the landlord and renter agree to break the lease at no cost to the tenant. 

At the properties current run rate, after accounting for Operational Expense [ taxes, maintenance, turnover costs, advertising] and Debt servicing [ the principal and interest on the normal loan and some sort of payback on the margin loan] your cash flow is break even. 

So it might take 50 months to break even on rent increases.

Working with that 1% sometimes can make or break your success.Best of luck!

You can get a bad tenant and things can break regardless of where the property is.

Don't believe you'll be able to evict them unless they break their lease. 

I lost a tenant due to medical issues causing them to have to break their lease at no fault and it will cost me 2k more with current management to get a new tenant.So my question: Should I bite the bullet and get a new tenant or maybe find a new property manager that doesn't have such a high fee and use a HELOC or cash out refinance to fund further real estate purchases?

I lost a tenant due to medical issues causing them to have to break their lease at no fault and it will cost me 2k more with current management to get a new tenant.So my question: Should I bite the bullet and get a new tenant or maybe find a new property manager that doesn't have such a high fee and use a HELOC or cash out refinance to fund further real estate purchases?