@Brad Hammond thanks for the mention!

.- Brad Fisher

Like @Brad Hammond said, when an investor is looking at being cash flow positive, they are typically putting down 20 percent or more.

Instant devaluation.Renovations will probably stagnate too--meaning Slums cannot be to far away for some of these places.Then they they will probably pass more laws to "Crack down on" the Evil Slum lords who own these places.What's next in some of these areas, old Soviet style Khrushchyovka Grey block flats with one common kitchen for all, to house the "good" Komrads and everyone else to the Siberian Salt mines.

I have seen Sellers do ultra-funky stuff with tenants after signing a sales agreement, and the estoppel letter basically says, "Here's the whole deal, and current land lord and tenant agree not to make any other deals." 

Keep in mind that it is a rental and you don't want to over rehab but you certainly don't want to be a slum lord. 

And if you're not wanting to be a land lord any more then a move to something like a DST (Delaware statutory trust) or Tenant In Common (TIC) give you an alternative that provides well within the same returns as your index fund these days while still maintaining the tax deferral of the 1031.

@Brad B., thank you for the feedback.

@Brad Polvorosa thank you, sir.

Thanks :)@Brad Farber @Jay D.