>>>>>http://www.detnews.com/apps/pbcs.dll/article?AID=/20080813/METRO/808130360
>>>>
>>>>Most people wouldn't buy a house in a crime infested neighborhood for any amount of money. I wouldn't.
>>>
>>>Well, if one wanted to become a slum-lord this would be a great way to get started. Get a few houses for a few hundred bucks, then move up to apartment buildings in these areas.
>>I figure the state would steal them back by forcing more property tax on you than you could pay. Also, you've obviously never owned any rental property. I had 12 units at one time (see my upcoming book - "How to lose 1 Million Dollars with Rental Property"). The renters think it's your job to carry them when they can't seem to scrape the money together. I mean, yeah, there's beer cans, whiskey bottles, crackpipes, etc all over the place, but they don't know nuttin bout that stuff... Best move I ever made was to divest myself of all but the one I have now. The last house I built and lived in, has been occupied by renters for the past six years, and the people are great renters. Sometimes, they have a problem paying on time, but they also fix stuff, so I've never charged them a late fee, a couple of times, I've actually given them a month's free rent when they were having hard times. I'd hate to have to do that with 12 units though. For eveyone who slams landlords, walk a mile in
>their
>> shoes first.
>
>Well, that's why it's called "Slum Lord". You don't give anyone a break - three minutes late on rent? Kickem out. And you never ever fix or repair anything either.

There are eviction laws now to protect from that. There are also legal representatives for the low-income in just about every city. There are also folks who make it a habit of never paying more than one months rent by moving from place to place and getting evicted each time after 3 months of non-payment of rent...