It isn't worth the risk.
I had a tenant for 8 months as I purchased the unit with a tenant, and had to do a repossession from the rental board.
She fought tooth and nail to stay, and initially didn't want to pay rent. So I chased her for rent.
Then she decided that she didn't have to use a cutting board anymore. Hacked up all the counters.
Most rentals people have good intentions. They break even for 25 years hoping that they get to scoop up the unit for "free" in the end.
It really isn't worth the stress.
I knew a guy from NY that went into the rental business after selling his house in Long Island (bought 3 rental properties in Florida). Was pure [censored] and nightmare for him.
I told him his half million would of been better on the stock market (S&P 500 , dividends) than dealing with [censored] deadbeats.
Lots of people have rentals with good results. I know another guy with 3 condos in Ft Lauderdale beach and the guy has zero problems. All his tenets are professional females that always pay on time. Good for him.
I would rather have $0 tied up in rental properties. Some people won't hesitate to trash your property if they are served with eviction papers.
Thanks now I'm scared to rent haha. So nobody has heard of the business marketplacehomes.com ? They have a six-year lease program that you get a mortgage payment each month no matter what and the builder of your house will pay for it if you're buying new construction