Well I have properties in just about all types of neighborhoods and I find that I have great success in all of them because I treat the properties all the same and the people like people. I find that if you are selective with all your clients reguardless of area your negative experiences are far less. Just my opinion.
Yep, somethings are always true. And stereotypes happen for a reason.
It really boils down to a probability game; sure you can have someone who is paying $1500/mn in rent trash your place just a much as a $350/mn house, but the chances of that happen over a five year period are much lower. To borrow a term from my manufacturing background, its all about “total cost of ownership”. remember time is probably the most valuable resource you have; you can always get more money, but time is a finite resource and must be alloted carefully. Something to consider when buying cheap, but high maintenance rentals.