Hasn't this been a strategy for years in rural areas where people buy five or ten "rental properties" for cheap?
There has been in my area. We have been in the rental business since 1985. We have 13 units right now and our goal is to have 20 units by the end of the year.
Total purchase price for the thirteen units we own now is $197,000. Total investment to date (Repairs and remodels including purchase prices) 255,000. Total still owed on these properties $76,000. Total cash flow per month (figuring 5% vacancy) 4,400 a month.
I love real estate!