I have found, at least in my market, that I get a better quality of applicant and if tenants know there is no "man" to screw over they will be happy to pay rent even in times of black swan events. 

Seems to me like an opportunity to give an investment a thorough once-over with a professional inspector and just check up on things so it's not a black box since the tenant moved in is pretty valuable. 

Typically $1.69 a square foot although we once purchased 5000 square feet of the stuff for 99 cents a square foot during a Black Friday sale

Sorry for so many black bars. 

@Bruce Woodruff if things were so black and white.

And my rate is 2.75 - if I make more than that rate of return on the next investment I should come out in the black as well.

I see black things on the deck and in the laundry room. 

When I got in found it was pained black, every inch including door jams and hinges.

Other than liability and having in black in white roles and responsibilities and the various what-ifs covered, the next issue is how to handle the tax/accounting. 

Black and white.