My old business partner had gotten into them around 3 years ago or more and loves them. Prior to that, he was all about rental properties and had between 40-50. Most of them were single family homes, and an apartment building or two.
An opportunity came along to purchase a handful or car washes from a retired cop who had gotten in over his head and needed to sell out quickly. He picked them up for a song. In no time he was looking, and purchased, more of them. Even ones that were completely burned up or had bums sleeping in them the next town over.
He said that he wish he knew about them sooner, because the return compared to real estate was like night and day. Now he is basically trying to get his hands on as many as he can afford. The hardest part is keeping up with the cash, and finding people who will not rip you off he said.
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