This towns numbers aren't great on AirDNA at all but I noticed a bunch of the listings weren't "professional" looking.

Essentially, this investment appears to double the initial capital over five years.However, I’ve been noticing an increasing number of these properties being listed for sale.

The company is investing over $11B into this datacenter, but you notice something about the campus; almost no parking lots. 

This will allow people to pay on time, get a notice when rent is due and if it is late.

All it takes is one tenant who knows their rights or calls Legal Aid.When this might be legal (very narrow scenarios)There are only a few situations where taking possession without eviction court is defensible:Clear abandonment, documented thoroughlyNo belongingsUtilities offWritten surrenderKeys returnedSquatters with no tenancy established, and even this is increasingly contestedPost-eviction lockout, after a sheriff executes a writWhat you described does not fit these categories if there is a valid lease.Why people still talk about itThis “service” persists because:It sometimes works when tenants are unsophisticatedTenants don’t always fight backEnforcement is complaint-drivenBut when it fails, it fails badly.This is survivorship bias, not legality.The correct play in CaliforniaIf the tenant has a lease:Serve proper notice (pay or quit, cure or quit, etc.)File unlawful detainerLet the sheriff handle possessionIf timing or cash flow is the issue:Cash-for-keys, properly documented, is far saferVoluntary surrender agreements work if done correctlyMediation often resolves faster than courtThis is not a gray area for landlords.It’s only gray for people willing to gamble on tenants not fighting back.If someone is offering this as a “service,” they are shifting all legal risk to you, not them.

All surrounding counties saw decreases. 

Quote from @Barbara Johannsen: I’ve noticed more seller-financed notes coming onto the market lately.

And I’ve noticed my cleaning fees and maintenance expenses aren’t as high as other operators because, for example, most people just stay in their rooms and keep to themselves.

Tenant placement is a one time service and is often far more affordable than ongoing management, while still protecting you on the front end.As for compliance, this typically includes:Proper advertising and screening in accordance with Fair Housing lawsConsistent, documented tenant selection criteriaLegally compliant lease agreements and required disclosuresUnderstanding local and state landlord-tenant laws (security deposits, habitability standards, notice requirements, etc.)Correct handling of application fees, background checks and denialsGetting the placement and compliance right from the start significantly reduces risk, stress, and costly mistakes later.

I'm cool with spending $300/mo to own this kind of asset, I just have to wrap my mind around my net worth increasing as my checking account decreases.