Madoff's fund was members only to leverage the same perception of joining an elite investors circle.  

You know, I find people's perceptions really interesting.

Just take away 10% of sellers (locked into a historically low rate) and 10% of buyers becoming over-eager (perception of looming interest rate hikes) and markets move.

It is also a much more ethical way to conduct your business IMO if you are looking off market for deals and you can be transparent with the homeowners by saying you can buy their property all cash with quick close for $X or you can list it for them for $Y but it will take longer and have higher transaction fees ($Y>$X), and you make money and help them either way ... so that way you are being honest and letting them make an informed decision on what is best for them rather than the perception that you are trying to rip them off and steal their equity.

If you can bargain bit more and make upgrades to the house, you might change the perception of the people to buy your house later.

@Kimberly Jones - very perceptive of you.

As others have mentioned, I would take a look a replacing a seal, handle or drawer if broken but will not put money into a compressor as a new fridge isn't that much more, plus you increase tenant perception when you have new appliances.

Look at the influence it has over people, how it can change their attitude, perspectives, relationships, and perception of what is important in life.  

I rarely have 10 stay, but I do think it provides a perception that my place is quite large, and bang for the buck a good deal.  

They think that we are just rich guys that have no perception of reality (I'm NOT rich, but it sometimes may appear that way to folks that have no assets).