Here's a PARTIAL list:Office rentComputers, printers & softwareInternet & phone billOffice furnitureOffice supplies: paper, postage, ink, etc.Office liability insuranceAuto expenses: monthly payment, insurance, gas, maintenance, registration/plate feesBroker license fees: annual, monthly board & MLS fees, continuing education fees, E&O insuranceEquipment: lockboxes, signs, etc.Payroll & payroll taxesBusiness income tax preparation and paymentsLabor: answering phones, calling past due tenants, scheduling tours, taking marketing pics, processing those pics, writing ads, researching rent amounts, posting ads, explaining to owners how rent determined & showing where ad posted, opening & processing mail, posting payments, bank deposits, scanning documents & posting to owner & tenant portals, explaining accounting to owners so they understand their monthly statements, taking pics/videos of repairs, finding reputable handymen and contractors, confirming they're properly licensed & insured and tracking annually, verifying repairs done properly, processing invoices for utility bills, repairs, taxes, city inspections, scheduling periodic property evaluations/inspections with tenants that don't want strangers in their homes, explaining to owners why taking so long, and more & more & more...

The lenders I've spoken with start asking for documentation "to validate the financial viability of the business" even though there's clearly more publicly available information from these companies than any kind of private investment. 

Is it common place to call the utility companies to get information on electric, gas, water and garbage pick up?

Rent-to-Price Ratio:Your observation about the rent-to-price ratio is valid.

Sometimes, our sanity and a reduction in workload is a valid goal.

That is probably a valid consideration.

I really think the " QUESTION" is do you raise rents... if you do you keep up with inflation, if you don't your a charity,, Does the gas station at the corner care if you drive a beater or a new car??

If so I would be upset you weren't aware of these issues before hand and have a valid argument.

Besides the doors being unlocked, he has left the gas on his stove on and has flooded the bathroom on numerous occasions damaging the ceiling below.

In order to foreclose in a judicial state it must go through the courts and you can easily file a response to the complaint showing the lien is not valid.In non judicial states it would be the same thing, you could respond to the trustee saying lien is not valid and they would have to provide proof of the original note you signed and notarized as well as the recorded deed of trust.