Even with it's headaches, HUD debt with 35 year terms definitely make it easier to sleep at night (the REACS and surplus cashflow calcs don't help but that's for another topic).

If I don't have a call with the agent the same night I submit an offer I know its toast.  

The place is unique because it allows nightly/short-term rentals, which most condos here do not allow.

I've lurked for years doing other things, and now I'm looking to get started.I was reading a local paper last night (which is new for me, too!)

@Paul Sandhu I'd want to use the boxing gear every night just to cope with how much I'd hate knocking on doors every day!  

So, I am looking at doing Airbnb/VRBO type 3-7 night rentals.

You could find owners in your area and offer your services to show apartments at nights/weekends.

I think if you drove the streets around your rentals on a Friday night it though, it may change your opinion on the quality of the area.The reason you are getting high returns is due to the area having high risk and other investors aren't that interested in the area so the prices of the houses are low.

Place bowl with some soap and water under a small night light that is low to the floor.

If you went from being a 9 to 5 engineer making a couple hundred thousand a year (probably living in a modest home in Silicone Valley area because of the high RE prices) and just became a multi-millionaire pretty much over night (at the IPO) would you not move up into something bigger and nicer?