I think your expectations are out of line with reality in many ways.

@Damon AlbersSounds like these properties are in a class c area and your manager is not doing a good job vetting themBut this is not out of ordinary for c class rentals which is why people look at cash flow and be like wow but one $5000 bill can wipe out 4-6 months of rental income and properties never make money and rarely appreciateThis is why we do not do lower class rentals as stated cash flow vs reality are typically not close

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!

These lenders essentially take the profits that rightfully belong to their clients—a practice that is not only unethical but destructive to the industry as a whole.The reality is there are plenty of good deals in the market.

This is correct, but that .5% is IN ADDITION to all the other closing costs associated with a refinance (Title/Escrow Fees, prepaids, and depending on the bank, Underwriting / processor costs) - so in reality it can be a little more expensive to refinance with IRRRLs.

I believe San Diego is a great RE market but the reality is it is very competitive and most purchases have negative initial cash flow.  

The reality now is govmit in my mind is going to be highly pressured to allow folks to rebuild on their LOT they OWN..

Let’s unpack your ROI question in a way that reflects the reality of your financing setup.When calculating ROI with multiple loans, you’ll want to include all financing components in your cash flow analysis.

These markets often have strong population and job growth and strong rental demand.But the reality is that even in more affordable markets like Columbus, you'll need about $50k-60k household income just to qualify for a conventional investment property loan (this assumes good credit and reasonable debt).

This is a reality I definitely needed to hear.