I always thought that when I paid off my home, maybe I would want to buy a house close by as a rental investment. But after living next door, across the street and two doors down from rental property, it makes me reconsider.
Across the street there were numerous disturbances including one when my entire street was blocked off by the Belleville Police. Two doors down every renter has either moved out without a notice, owing rent, or has been evicted for owing more than six months back rent. Apparently eviction is a slow process.
I caught one of the boys who lives next door, around 7 years old, trying to steal a tow hitch off two of my neighbor's trucks. I had to pay to install a privacy section to block the trash, derelict vehicle, 8-foot weeds and knee-high grass. I find cars parked in my driveway and cars driving through my drive, front to back, to park in their rear parking area.
It's funny, it came back to me that they may move at the end of their lease because the neighbor doesn't like them. It has nothing to do with liking someone. I believe it's about the respect.
I have lived here for 25 years and never thought that this is what it would be like. I thought people were supposed to be proud of their homes and yards.
So to my conclusion, I do not believe rental property is at all a good investment.