I had a coworker, young guy in his mid 20s years ago that bought one property, poured all his money to renovate and to rent out. He got some tenants, gov't would pay their rent. He thought exactly like you posted, best thing ever, guaranteed cash every month. About a year into it, neighbors started complaining about drug traffic. He eventually evicted them. When he went to check his property was trashed inside with at least 4k worth of damage. He told me he literally cried. He tried contacting the sponsoring agency to get them to pay for the damage but nothing happened. It doesn't work out ideally like you expect.

College kids suck, i'd rather find young professionals (college graduates mid to late 20s) or families if I was a landlord.

Near Duluth MN North Shore is insane. Almost nothing on market still, even tax county forfeit land going for insane bids. For example, 35 acres open bid at 78k, final bid 336k for raw undeveloped land where half acres are wetlands, no lake view. Used to be $3/5k an acre in that same area on high end. So, not much supply and not much new build opportunity now for locals. Is this a bubble or the new norm?

This post was edited by RedFromWinter on Feb 14 2022 03:43am

Checking another property in MN nearish the border this weekend. ~40 acres foreclosure special on private lake with frozen pipes in the main house. ~230k list price