I also install a SimpliSafe alarm at my properties for an added level of safety for the guests. 

He told me at the end his service dog will alarm him whenever he is about to have an episode...Don't know what he means...I just signed the lease contract and delivered the key to another family with no animals today.

I'm thinking things like extra $ for optional wash/dryer, stainless frig, security alarm, even a flatscreen TV....whatever.I've heard stories of this strategy so higher monthly rent continues well after the desirable "extra" item's cost is paid for.

I am not to a point of alarm yet but a bit puzzled as to how or why a market shift in real estate buying power would effect rental demand when I expected the complete opposite effect.

Guests usually don't use the security alarm function but some like to have it and we like it since we're over an hour away.

I guess I've given you my take on your ethics question.Sorry, War Bar, my alarm bells ring when someone suggests using leverage and asks about ethics.It's now 9/30.

I would either do a minimal rehab to get section 8 ready and have it professionally managed (and then cash out refi) or sell as is to mitigate risks.If you don't have anyone residing in the property right now, I would highly recommend moving quickly on whatever you do and install an alarm system.

I always check at least once a year:(1) Smoke alarms(2) Fire extinguishers(3) Roof (usually just send someone in to the attic)(4) Windows and doors for leaks;(5) Underneath sinks for leaks (in case you haven't notice I'm terrified of water)(6) Exposed wiring of any kind(7) Any type of repair that needs fixing (I just give my handy man free reign)(8) HVAC (separate HVAC guy comes through and inspects and services)(9) If there's something unique to the house (e.g. railing), I have him check to make sure it's safe and secure.

I can tell you its a great market and appreciation is increasing at an alarming rate. 

But you can also check with the local alarm company, just have the charges billed to you, then charge you tenant..slightly over.When filing evictions, I have in the past charged a $100 admin fee for having to go to the court house and file, in addition to the filing fees etc..Also, if you have a multi-unit community, you can charge for faxing service, check with your local dry cleaners and set up a pick up and drop off service at the office.You can charge extra for certain views, first floor, second, third etc...Furnished units are good as well.