If it's written and you both agree to it will eliminate any hard feelings later if there is a disagreement.

DSCR eliminates that issue too. 

If it turns out that it will be more affordable to purchase a preexisting home (again, financing in place), then it may eliminate the need for the rental altogether, simply by moving and then renting out your current home.  

I teach kids but the parents don't tip me for teaching them.And that would be a terrible hit to the upward mobility of the middle class' attempt to move to the next level if 1031 exchanges were eliminated.

You spent a lot of time & effort on rehabbing an upper apartment that I assume will pay higher mkt rents but get to enjoy the smoking as it permeates through the building & the dog howling.You need to eliminate this nuisance & then rehab that apartment to gain yet higher mkt rents.

This in theory would allow me to make more appealing offers on deals and eliminate a lender on the front end, when negotiating with the seller.

I feel like you may eliminate a large section of your tenant pool because you are having them pay for water when every other landlord doesn't.

Eliminate 1031s and increase RG tax rate to increase tax revenue to redistribute?

If your goal is to eliminate the PMI your don’t want to tap into the equity with a HELOC plus I don’t think the current cashflow can support much more debt.

It's those maniacs that buy homes cash via quit claim deed off of craigslist that really get screwed.Make sure your property manager is a licensed real estate brokerage.Google Clayton Morris and/or Morris Invest for a cautionary tale of what not to do when buying turnkey real estateUnderstand you can not eliminate all risk, only mitigate it.