I've had several guests stay 7+ days during the winter which was likely a covid bump, but I've had a couple groups of ice fisherman too. 

Rules can change and put restrictions on rentals.Prices may go up, but I wouldn't depend on it happening-it is the icing on the cake.You can also look at nearby areas where you might be able to get a good single family house for the same amount of money.

Tax benefits and appreciation are great, but they should be viewed as icing on the cake.

Leaks could be a washing machine hose, water heater that has rusted out, a pipe inside the wall that was hit with a screw or nail during construction that has finally given way or the owner or tenant pounding nails into the water wall to hang pictures, or the ice maker hose in the kitchen, the dishwasher hose, etc.

Major items in the renovation include:Level floors, Lay new peel and stick vinyl throughoutRemove wall heater from bedroomRe-sheetrock in living room to smooth out wall (tie control thermostat wires in wall to provide power on roof)Install new plumbing runs throughoutInstall new drain lines where applicableInstall water line and in-wall box for refrigerator ice makerInstall new tubInstall new tile shower surroundMove over all light switches away from door trimRun wire to two new living room lights, install three way switch outside of bedroom and exterior patio doorInstall new light and wall switch in bedroom closetMove bedroom door 6-7 inches to the south to allow construction of half wallDemo existing living room closet and construct half wall (replumb gas and electrical as required)Demo kitchen cabinets, pantry and counterInstall sheet-rock over water damaged hardboard in bathroom and bedroomsInterior Paint throughoutInstall new bathroom vanityInstall new bathroom lightInstall new kitchen lightInstall new cabinetsInstall new granite counter topsInstall new AC registers (bedroom and bathroom)Install new toiletInstall three (3) new six-panel doors (bedroom, closet, bathroom)Install new outlets and coversInstall new switches and coversAgain, my four estimates for this work range from $14,000 to 25,000 and would complete in 2-3 weeks.

So the appreciation is inevitable, and the icing on the cake.

Refrigerators should have ice/water in the door.

It’s easier to get to my jobs without the snow and ice on the ground.

You can watch the ice floe move back and forth between the 2 rivers I guess...We do fine at that occupancy.

Real estate is a hobby and just icing on the cake.