Reading all the arguments. Still torn.
Living in both worlds...I can relate to not being able to afford a roof. I also can relate to NOT being able to "move" just anywhere else. That takes money.
Rentals charge THREE TIMES the amount of the rent in order to qualify. Plus deposit. Plus utilities. Plus now they charge monthly rent for your dog if you have one unless it is an ESA (emotional support animal).
On the other hand, the nicer places, better neighborhoods, cleaner areas, less crime, more self respect is found in the higher rental areas. Those who want those things, that are not druggies or drunks or losers who refuse to work. They are middle class..or WAS middle class...they are seniors...they are people who one of them got sick and the bills mounted so badly they had no choice but to become homeless. They just don't make THREE TIMES the rent in their SS or jobs or whatever.
As I said...I lived in both worlds. So...torn. If you bought the house and rent it out...then its yours to do with as you wish concerning rent. On the other hand, you could also be a slum lord...or not, and just too damn greedy.
You do a market analysis to see what the going rents are. I never understood if the area fetches 2500 per month per unit....and that unit (house or apt) sits empty for months because nobody can ******* afford it..that is money lost FOREVER. But if you rent it for 1500 per month...you are not getting what it could get, but you aren't out ZERO dollars either. and asking THREE TIMES the amount of rent as your income is ludicrous.
Anyway....torn. And this whole subject upsets me. So...........
/thread