Your awful tenants are nothing compared to what bad tenants are actually like.

It is laughable that you are calling this a bad investment with zero information.Also, $550 mortgage payment already included the taxes and insurance in the escrowed mortgage calculation.

Tracey you have run into the thousands of scammers on FB that are fake lenders.there is no such thing as a 4% land loan.the English is bad.. use common sense here..

If you think the numbers on your first property are bad just wait till you see the return on investment in Colorado lol....

Any tenant that does not pay on time in his first three months, until after he receives a eviction notice, is a very bad sign.Get rid of him asap.

Someone convince me this is a bad idea.

I don't know how well you know your market, but I am assuming you aren't ignorant and know where the good, bad and decent areas to live in are.

I follow the zillow rental listings for those houses, and they can be rented for $3.5-$4.0kEndless numbers crunching and countless spread sheets tell me land-lording my condo, and renting a SFH is not such a bad idea. 

Bad idea?

Most guests are very respectful and awesome, so don't get discouraged when you have a bad one.. it's par for the course.3.