I've have avoided horror stories by only buying in middle class owner occupier suburbs. Theory that in an inflationary environment all properties eventually become cash-flow positive. Properties that are theoretically cash-flow positive at purchase, invariably aren't. Missed rent, high maintenance costs, prolonged vacancies between tenants and in the end most landlords chuck in the towel. In most cases the only people who make good money out of lower socio-economic rental properties are the real estate agents.
