Their appraised value on homesteaded property is frozen once they turn 65.Does that make sense?

The duplex is built in 1910, cash flows well, but has snow sitting on the roof half the year, I have to replace the furnace already, worry about ice/snow removal, and of course, had to pay for that frozen pipe (that goodness it didn't burst).   

Grass and weeds tend to grow in between pavers, you need to shovel and salt in the winter (especially in Chicago) and due to the freeze-thaw cycle the pavers tend to creep, move, bend and look unsightly after a short time (the frozen water expands, shifting the pavers around and out of alignment during the winter) All-in-all, I would imagine its a bit of a hassle, especially if people tend to enter through the garage. 

what are you going to do if or when your heloc is called .. remember helocs are not fixed term financing they are en extension of credit and can be frozen or called at the discretion of the lender.now if you have a hundred grand in cash sitting in the bank and can easily pay it off that's one thing.but these exact scenarios is what bankrupt untold thousands and thousands of investors when the market turned to the worst or they had extended tenant issues.100% leverage for 3600 a year potential gain to me if far to much risk.

Flooded basements that have been cracked in half when frozen, mold, termites, rot, etc.

She said the plumbing in the new addition had frozen.

New A/C, new roof, tore out bathroom and re-plumbed with pex since it's on a crawl space (great decision as pipes have frozen a couple of times with no splitting) new flooring, painted and appliances.

If water or waste pipes are frozen Tenant will notify Landlord immediately and in writing.

Insulating pipes is rarely going to prevent frozen pipes when temperatures get very low; a source if heat is the only real solution when temperatures get low like when the “polar vortex” occurs.

Meanwhile the rents and inflation have continued to increase, giving them astronomical ROI (triple digits).When the rents are frozen, or unable to float to meet demand, its a barrier to entry for new investors.