Does maintenance factor in replacement costs of the HVAC, Roof, Glass windows, structural piping, Parking lot repaving, sprinkler systems, etc. 

Someone with a large portfolio might have a system that works for them and which they have maximized but which might not translate well to your market, your personality or your approach to investing.

While the first two are great for inspiration, the last one offers much more image control based on what is called ControlNets, which allows control of the composition and weights of an image.

I save on property management fees, maintain control over tenant relations, and personally ensure things are done right.

I lose control of the investment and these are long term, illiquid investments - but they put significant and regular cash in my bank account and a much higher rate than when I was trying to be actively passive. 

Some people like to be hands on as owners and be control freaks.

Similarly, I am currently depreciating an HVAC system I installed several years ago so wouldn't the remaining undepreciated amount be added to my adjusted (carryover) basis (using either the general or simplified methods) after the exchange is completed?  

Informational control is not only about audits.

The book introduces the Entrepreneurial Operating System (EOS), a framework designed to help businesses clarify, simplify, and achieve their vision.We use it for vision alignment, goal setting, & accountability.

It enables you to take advantage of a smaller, if any, down payment while owning/controlling a piece of real estate.