All you're doing is transferring that cash from the bank (where it is liquid an alive) to the floors, walls, nails, etc...of the property where it dies. 

@Matthew Paul couldn’t have nailed it better

Our signed lease clearly states no use of nails or screws of any kind in the walls.

@Maurice Stewart my policy is to llow a "reasonable number" of small nails for hanging pictures.

@Frank Gamez and @Morgan Madill i see where your coming from however @Ronan Donnelly, @Meir Greenblatt and the rest have hit it the nail right on the head. you must look at the data and make an informed decision on logic and not emotion.

The good news is that the rate is very reasonable for a home built in the late 1980s (with a new, correctly installed with the correct nails, roof). 

Nailed every one he did!   

You will want to nail down all of your expenses for the property and if you're not managing yourself, make sure your property manager is equipped to deal with tenants in that neighborhood.

And of course, condotels are popular, but I don't see any that come close to having a cash flow.There is lots of inventory right now, but the time on market is rising, while the prices are slowing over what the past several years have shown.There are good stats available on the local MLS site at hicentral.The key to this market is have your financing nailed down before you waste a lot of time looking.

Evan nailed it!