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Oh wow, a full 50 USD per apartment per month. Sounds like where practical difference vs. statistically significant difference might depart, if a statistically different result exists in the first place.
Other than that Mrs. Lincoln, how was the play? It's funny how the relationship between risk and reward is often rediscovered unwittingly.
All else equal, I would expect the return on investment for being a landlord for the poor to be greater than that for the return on being a landlord for the affluent. Greater reward for greater risk is expected.
Holding ROI constant, I'd greatly prefer being a landlord for the affluent than the not-so-affluent.
It's analogous to investing in general. A "good" company is not necessarily a good investment if you're looking for higher returns, given the relationship between risk and reward.
Furthermore, dealing with those on the lower end of the socioeconomic bell curve sucks, so there should be an additional premium above that of mere naive modeling of financial risk and reward.
Bougie Karen might harangue you about the angle of her towel rack installation, but at least her online autopay will go through and she'll otherwise be chill. Keranique, on the other hand, will be trying to hand you physical checks that will bounce, ditching her kids at your office for your staff to babysit, ditching her kids at your other tenants’ place to babysit, have friends and family over that wreck your property and disturb your other tenants, and will often have over babies daddies slash boyfriends that result in having the police being called, for reasons ranging from domestic violence to property damage to assaulting other residents.
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