My average repair bill is $150 per service call, fix a leaking toilet, repair a burner, etc.

In some cases, YES but for most investors specially the newbies, I will not recommend buying alligators (properties you have to feed).Maybe once you have a five positive cashflow properties then maybe you can feed an alligator...provided you can butcher (meaning sell) that alligator in a hurry and get to your FAT profit fast  :-)

If you have a lot, some people will see you as privileged "fat cat".

You're a burner??

@David SaundersAt least once a week, someone posts to the commercial newsgroup seeking a way to finance 100% of the acquisition cost for an income property.I suppose it is fueled by the late night infomercials touting no money down deals and using pictures of Class A apartment buildings, never saying the one describes the other, but leaving a strong impression that that is the case.The way it comes across, one would believe that all you have to do to become a millionaire in real estate is to acquire the properties with OPM, meaning Other People’s Money, and then just sit back and collect the big fat checks they like to flash on the screen.

But the general point is there - 1031s are mom and pop not fat cats. 

They are old, short, fat, pretty, ugly, tall, can't speak English?

Using an FHA loan with low money down, I'd have FAT PMI which would eat into any potential cash flowMy monthly expenses are about 2,400I make about 75k per year at my W2 job, which does let me work remotely whenever I wantTo househack in San Diego or invest far away...both have pros and cons...

It's down for service so OH well, Not a life changer, or something I'd comp for.But I wouldn't have accepted a service warranty call from Samsung and been put on the back burner, I would have packed it up and returned it in a heartbeat.

We’ve even seen logging yard sawdust ‘teepee’ burners converted into living space.What is the missing opportunity?