It has a lot to do with the type of people who buy cheap properties. Their mindset is often, How can I make the most money on this (shitty) piece of real estate? Then they cut corners, because -- and I say this as a landlady of cheap townhomes -- you really can't make that much on decrepit rental properties if you are constantly making repairs. I only converted the place I have (and bought a second one, next door) because I hated being an Abnb host AND where I live the second one was a bargain. We bring in a steady profit about in line with having a decent mutual fund. The decision was purely financial - I'd rather invest in real estate than the market...and that's mostly because, due to my own paranois, I don't trust the stock market not to screw me over somehow. So I guess what I'm saying is a lot of people who become landlords don't know what they are getting into and don't realize it might not be a pot-of-gold situation. Then they blame the tenants and act like jerks.