Local developers who market that benefit won't tell you that.Also, I regularly see ads for large new condo developments so, if I was a buyer, I'd be concerned about overbuilding, especially given my previous remark.

The fundamental is that the asset (real estate) does literally NOTHING without active operational inputs on a consistent, regularized basis. 

Until something shows up in the regular mail, ignore them.

Must be nice.Edit: Telling me that my property was a bad investment 15-20 years ago is like me telling you that you failed as a stock investor because you didn't beat the S&P 500.First I was purchasing RE since 1993 and 13 years ago (not quite 15 but I suspect similar buy criteria) I started purchasing regularly.  13 years ago 1% properties were a dime a dozen.  2% was the goal (the rule used to be called the 2% rule) and was challenging in coastal southern Ca, but 1.5% was not that hard to find. 

Weeks of poop in shared yard regularly not picked up.

However, I'd like to see some income showing that they can pay for utilities, and regular living expenses. 

Our plan now is to sell a single-family in our portfolio that I've never liked but is mostly paid off, and 1031 the money into the cash injection for a commercial loan by our regular banker.

Depending on your income You get to take depreciation off your regular income (usually up to $25k) of 3.6% per year of the building’s value.Many of your everyday expense can be deducted from your income as business expenses. 

Add on regular amortization and I’d have right around 15% equity after 3 years.

For us BP people, we can see the potential in a fresh coat of off-white paint where regular people just see a gross ugly house.