>>>>>>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...

Well, that's whey you need to be sure to be in a slum area. Perferable to rent to people who do a lot of drugs and break the law on a regular basis - that way after the one month you just say the words "calling the cops" and everyone retreats! That or they start shooting. Best bet is to have a hired thug or two for the 'evictions'.