Frozen pipes etc.Also, AZ's tenant/landlord laws are VERY favorable.

I assume they went away when everyone's heloc's all got frozen by the banks.

I am in the frozen north, have only ever used M2M leases with exact same conditions as you, and have never had any issues.Personally I believe it is more efficient being in control of your business than having tenants in control.

TERRIBLE can't begin to tell you how big a deal it was.. worrying about frozen plumbing, and everything.. had to get electric heaters to keep the water going for toilets and sinks.. 

Actually can fit more in the freezer than in a side-by-side that might not fit a frozen pizza.  

I've seen regularly scheduled maintenance reduce the number and damage caused by blocked drains (which is usually accompanied by tech OT, water damage to that unit and the unit below, etc), I've scheduled run cap replacements every season, so that is also a frequent work order, filter changes and coil cleans reduced the frozen evaporator calls, (which is always found with 2 in of ice on it, and had been running for 2 days straight.)

frozen pipes?

Hell has frozen over.

. : )I have SFR broker friends and they sold to investors 3 to 4 years ago when markets were frozen and  cash was king.

@Brent Coombs  Ah did not see the must part in this.I wonder if banks could be behind it.. in that they know rates are rising and they want new loans and not a ton of money out there frozen at 3 to 4% for the next 25 years.. maybe they think if this pass's folks will need new mortgages instead of sub too.... reset them at higher rates.... as things have bounced back in most areas the amount of underwater mortgages should not be too high anyway..