Populace in the not-so-violent parts of town are typically heavily armed (with the exception of TTU dorms), so you don't see much beyond night time car theft, looting of unlocked cars, or stealing unsecured property in back and front yards.

LOCKS: If you find it necessary to have us unlock the rental unit you will be charged a fee of $50.00, payable as additional rent, within 7 days from the lockout service.

Maybe there is some way to unlock value (e.g. adding a bedroom or bathroom) that others just seem to be missing.

Sounds like a good way to unlock some value. 

I can't tell you how excited we were as we thought we had unlocked the key to financial wealth.Then **** Hit the fan as it got ugly fast.Turns out after two weeks in our first rental the couple broke up and the wife disappeared (moved out of town). 

I typically like to buy "broken toys" that have some value I can unlock with either renovations or just some love in the form of paint or cleaning up the exterior.

Get there when they unlock the door and leave when it gets locked.

Immediately after the purchase you can unlock that equity with whatever debt instrument you choose and use the cash for your own purposes.You purchased as much as you sold.  

Joshua,Is there a place to get an unlocked copy of this spreadsheet or similar?

By the time I'm at the retiring age, not factoring in appreciation, I will have unlocked $60,000/year in rental income off of three units since the mortgages will be paid off.