When invest stocks, they care so much about potential return while not prepare for the worst.
When invest rental properties, we put lots of effort on calculating return rate but not do "risk adjustment". Most of time, bad locations will provide better cash flow but have higher risk losing rents. The biggest risk for ALL locations is LEGAL risk. One of my client's tenant who can't pay $1100/mon rent claimed that she had a $50k painting in the property and got damaged. There are many lawyers who are willing to work for these louzy tenants for "free" (no payment if can't win the case). My client didn't want to pay the $50k to the tenant but end up paying $60k to her attorney.
Lots of landlords' info are public. It is easy to find out how "fat" (rich) the landlords are and find a way to suit .......Make sure your asset is protected.