My late charges are designed to discourage undesirable behavior, not really as another income source.

We use cap rate to evaluate a property and to get a 10% cap you usually have to buy extremely distressed properties or buy in undesirable areas.

They've never lived in a low-income area or in a mobile home, so they think only druggies and thugs live in them.Those of us who've lived in these places know that yes, there are some undesirables, but there are other areas that are safe and full of hardworking people who need a good place to live. 

The condition was undesirable to home buyers/owner occupants because it's difficult to picture yourself living in a place that was previously so, well, smelly and dirty.How did you find this deal and how did you negotiate it?

Is one of the cities better than the other and what areas in each of the cities are desirable/undesirable?

I want MY MONEY to be invested in MY SPECIALTY-groceries, not RE, or trucks or any of the other peripheral junk I need in order to sell my groceries.BTW, one reason for the high pay-out on REITs is THAT THE AMOUNT PAID BACK TO HOLDERS/VERSUS WHAT IS RETAINED IS CONTROLLED BY FEDERAL LAW.

in the rental space.My question - if you are connecting peripherals (smart lock/cameras/etc.) to Wi-Fi, don't you pretty much have to extend that access to guests?

Unfortunately, unless you don't mind living in an extremely undesirable area, the opportunity just isn't there on the mls.

Assuming you can make New Britain work for you, there may come a day when you wish that people still thought of it as "undesirable" so you could buy more deals before the run-up.

@Mahdi Mike zip code alone would not be a very precise way of estimating vacancy--because there can be highly desirable neighborhoods (low vacancy) and completely undesirable neighborhoods (high vacancy) within the same zip code.