I got a very good price on the building (about $25k per door), but it was a ton of work as in addition to tenant issues, there was TONS of physical distress (foundation repairs, sewer line and water line repairs, electrical upgrades, new roof, and apartment renovations needed for all units). 

It is really targeted at gross overuse. for sure. i just ensure it's in the contract to that I can exercise the RIGHT to charge it if I want to. 

Exercise caution and explore alternatives before considering them

However, for the purpose of a healthy and helpful discussion, I invite you to the the do the following exercise to get the facts first:1.

This exercise will help you establish which of the two properties best aligns with your long term goals.

This is especially important if you're on the younger side, as those returns can compound significantly over the next few decades.I'm in a small real estate mastermind group, and we all did this exercise with our own portfolios and identified underperforming properties and equity to reposition, and presented it the group for feedback.

We did have confusion regarding where the physical, blank checks would be sent to, but it all worked out.

That alone could ruin the outlook for you, so just make real sure of the physical condition of the property.

The 3rd thing that has reshaped my entire opinion of the tax advantages of real estate, is seeing my 88 grandfather holding five quite valuable illiquid properties, long story short it’s a mess, it’s causing family drama, he is in zero shape physically or mentally to manage them, the all have cap-ex needs, again these were amazing buy’s literally multiple properties he bought for under 50k that are now worth over a million but there is probably a time and a place for owning real estate, so I don’t really have a need to own more than maybe a few properties into retirement.

My wife and I would go running for exercise and we had a chance to look at several of the neighborhoods.