I assure you the math has been done

It’'s really not all about raw profit, it’s also about risk assessment. There is always a risk of significant damage to the property which would cost more to repair than it brought from rent. There’s also a risk of not being able to evict the non-paying tenant, which basically locks you out of your property for years.

We all hate landlords, I hate them with burning passion, but we gotta be honest here - the tenant is a hardcore-tier client type.