If you're not changing the structure, @Willy Vasquez morales, there's no reason that you can't remove and replace the deck boards and be done with it.

You offload all the maintenance on your tenant/buyer and basically just keep the spread acting as a middle man between two groups of people who have money trouble.The rock star version of this is you do it with nice $300,000+ single family houses and sell them for 20% above fair market value (sale for $365,000 or more) to people who have excellent income but crappy credit, so they're willing to overpay and bet on an appreciating market so they don't mind as much being skinned alive on both the above market rent and above market sale price.Like I said....somewhat dubious morality here, but legal in many states. 

The investors who play the long game always make money is the moral of the story.

This is seriously dangerous advice.Beside state law, you have a moral obligation to test/remediate lead paint if there are children in the rental. 

@Robin Morales someday I hope to own property in Vegas.

If you want to boost paper income a monthly fee instead of a deposit can help.

So, he clearly doesn't care about morals!

Anything in the 1.4%+ range are total crap and I don't want them.The advantages with apartments are you concentrate capital, you can increase value by boosting rents and decreasing expenses, and if you get above a certain price point you can get non-recourse financing. 

ARV with rents to market rate would boost that number to 1.3M.

Moral?