Figure a few grand to paint rooms, replace carpet in a room, deep clean and spruce the property, replace a fixture or two, etc.If you have to replace your resident annually the $9600 total income will get a gut punch.The true value of the higher-end neighborhoods is residents know if they move out of the home they have it's a challenge to find another, especially if they have been there a few years and have a competitively rewarding rent rate.All this really is is basic economics...sell ten custom widgets for $1000 or 100 standard widgets for $100 each.

Other (besides standard depreciation) off the top of head tax advantages of RE:- cash out refi gives tax deferred access to equity- 1031 for investment properties allow deferring of the gains

@Joe Banks - Happy to provide whatever transparency into Eric's complaint that's within ethical standards and does not reveal any specifics of his personal situation.

Moreover you don't have to pay any fees, commission or standard closing cost either.Let me know if this interest you.

Perhaps you are considering a design that is much simpler than a standard multi-story build?

You set your screening standards based on the class of your property.Unless you specifically want welfare tenants in which case you adjust the screening. 

Assumptions made about the contractor being a deadbeat are reasonable to consider, but again, remaining lost in the thread, is the fact that a banker I work with now, who used to be at BofA - for many years, indicated this is standard and common practice, to hold and stall on releasing funds as long as possible.

Obviously this does not apply to everyone, but are you an outlier, or are you in the middle 87% of the one standard deviation of the curve like most of us mortals?

I am working through a PSA for the purchase of a self storage property and I would like to know what surveys you would say area) criticalb) nice to havec) unnecessarywhen acquiring a self storage facility especially given standard exceptions in title policies.

Hoping others will either chime in with- it's pretty standard/no effect on higher premium or provide better insight.