If any of your properties are discovered by City officials to be unregistered, you can receive an administrative citation for failure to register; this penalty can cost $100 or more per property.

It’s a failure and it didn’t hurt my drive.

Failure to pay rent would be. 

What financing mechanism will you use?  

Although management has always been the key to success or failure. 

Cash flow is mainly a mechanism of leverage in the deal.

Customer Service integration to handle tenant issues, monitoring of Mechanical issues where the A.I. can proactively do something to ensure it's well maintained or to be able to fix an issue, etc.My Portfolio has basically been self-running except for occasional P.M. 

All your mechanical will be about the same as if you were building a much larger house. $120k for 200 sqft seems reasonable. 

We have a lease clause that plumbing issues caused by the tenant that are not the result of a mechanical or material defect in the plumbing material are billed to the tenant.

I've seen numerous QI's fail during my 40 years in the business, and most of the failures would have been prevented had their been government oversight.