How typical are non-paying tenants in lower economic areas?
The more I read and learn about investing, according to the bigger pockets strategies, the more questions I have.
Wouldn’t renting in a low economic area, where homes are selling for under $100k, wouldn’t that also invite less prosperous and less responsible tenants who will more frequently default on rent?
BP never mentions this, but I read it elsewhere. BP also seems to present the idea that owning 40, or even 20, homes is a breeze to manage. Not a big deal. I would think you would need a manager to manage all this? Especially if properties are located in different states?
I just see a lot of problems and headaches in owning numerous low cost homes in poor areas. I have no experience though, so I can’t say.
Can any experienced landlords here comment on this?