I have seen Investors make this mistake time and time again because of the necessity and mental fixation on cash flow.

My first property became a rental out of necessity rather than as an investment. 

So if paid marketing brought the biz in the door, then the marketing department where the biggest slice goes, and that means what is left by necessity must go to someone who has no choice but to take those smaller table scrap sized pie slices.

I’m not saying that’s bad, term is an absolute necessity for everyone.

But yes, education, healthcare and the rest are all crowded out from growing too much as a portion of total spending with time because all are necessities.  

Having a simple color that is easy to get and do touch ups with is a big selling point for me(it is a point I make every time I am looking at a new place to rent)Hardwood floors aren't a necessity for me but some type of flooring that is easy to keep clean is.

I figure at least oil is guaranteed necessity at some level, you know?

I just did a 5/1  IO  myself days ago but I did it only out of necessity and that only because I know I can payoff the money if it becomes necessary in 5 yrs.

Its an absolute necessity, and MI was not only fine with it, but encouraged it. 

I am much more concerned about "opening can of worms" and adding unforeseen costs to the projects due to the necessity to bring a lot of things up to code.