is location!!!
I was in rental business for a short time before going into trading business in Wall Street.
Even in a nice locatio where you can have nice cash flow, some states implements low-income laws that force community to take low-income renters, you can not choose the tenants, at least not openly. If some Section8 types(google section8) wants to rent your property, it can be a big problem for you.
For multi family type of property like apartment building, you can not turn down Section8 tenants. Once you rent one of your apartments to section8, other potential tenants would no longer be interested in your property. You see the problem?
For single family property, you can choose what kind of tenants. But be careful
