JD, in general I agree with what you say. But the fact of the matter is that renters are renters for a reason, usually because they can't handle money or take care of business. We have been fortunate enough on occasion to get renters who were renting because they chose to, for the most part you have to take least bad of the worst. That means ALL the applicants have bad credit, making a credit check a waste of time and money. Likewise, most of them have other problems that are not always obvious when you're screening applicants.
We have three properties in middle-class suburbs of Detroit. And we have one in the fine city of Pontiac. The Pontiac house is more aggravation than the other three combined, and we would like to get rid of it, but doing so would entail a big loss. So we press on, hoping the next tenant will be better than the last. The house has a very good cash flow when it's rented, but if you have to evict a tenant it takes a long time to make up the lost cash flow. The pool of prospective tenants in Pontiac includes people who WANT to live there, and people who HAVE to live there. Neither kind are the sort of folks you want as tenants. So we show the house to fifty or sixty prospects, about twenty of whom fill out applications. From there, we get to pick between the convicted felons, deadbeats, welfare moms, and other assorted individuals who want desperately to rent a decent house in an OK neighborhood in one of the poorest and most dangerous cities in America.
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Today's Featured Article - Third Brush Generators - by Chris Pratt. While I love straightening sheet metal, cleaning, and painting old tractors, I use every excuse to avoid working on the on the electrics. I find the whole process sheer mystery. I have picked up and attempted to read every auto and farm electrics book with no improvement in the situation. They all seem to start with a chapter entitled "Theory of Electricity". After a few paragraphs I usually close the book and go back to banging out dents. A good friend and I were recently discussing our tractor electrical systems when he stated "I figure it all comes back to applying Ohms Law". At this point
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