“ they can cause incredible damage to your property before spending the thousands of dollars it takes to get them out.”
Happened to us the one and only time we owned rental property. Once was enough for a lifetime. Not only did he not pay, he stole all sorts of permanent fixtures, quit paying his water bill and the water got shut off, but he continued using the toilet (!), walls smashed, knee deep in garbage and porn magazines.
I had our police captain neighbor run his hot sheet and it came back as expected…as long as your arm.
We were in an investment t group and the guy we put in charge of getting a tenant did not do any background checking.
Trying to evict in Scotts Valley, CA is actually a worse ordeal than dealing with such a “tenant.”
What a lesson.
A guy who bought a 4 unit from me 5 years ago that came with extra land and water/sewer taps just called for some information because he’s going to add 8 more units. Some people are doing fine with rentals. Location, location, location still matters.
Investing in raw land still works very well if you don’t need income from it and have patience, the hallmark of all investing.