Not I, but my dad has 7 or 8 investment properties spread around California and Utah. So far he has been able to cover mortgage payments with the rent. He rents out a couple of the houses to students and is able to cover rent fairly easily with them. So far he has not been burned too badly with tenants trashing the place.
Some of my friends here in Northern California are not able to cover their mortgage with rent payments, but the're okay with that and feel like it comes as part of the investment. Not a huge deficit, maybe $100 per month.
On a recent cruise, my folks were speaking with a real estate agent from Dallas. They said that the current Dallas market (2 or 3 months ago) was such that you could buy a decent sized house for ~$150K and rent the same house for $1000-$1200 per month. I've never checked to verify, but with a modest down payment you could do fairly well under those circumstances.
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