It would be the equivalent of having a tenant in your building operating a alcohol brewery without a license or someone operating a alcohol distribution business out of your property without a license.

That's equivalent to the money invested in the mutual fund.

I stayed in a house last year in Utah and while the owner didn't have a Nest or the equivalent, she requested that the a/c be turned up when leaving the house.

This is also closely related to "loss-aversion," people tend to choose options framed in terms of potential gains rather than potential losses, even if the choices are otherwise equal.An example of this is most people are more likely to take a guaranteed $100 rather than a 50/50 chance at winning $200 even though the probability is equivalent.

Generally, it is not a position to get rich, but a top agent can make money equivalent or even more than a doctor, lawyer, etc... 

Each December, I send each resident a check equivalent to one percent of their on time rent payments - must be on time.I then match that with a donation to a local charity specifically working in the emergency housing area.

The way most landlords do it is to charge an Early Termination Fee "the equivalent of two months rent". 

Basically, these are either truly off-market deals, about to go on-market deals, or the equivalent of a "Make Me Move" style price.  

This keeps my monthly payment equivalent to scenario 1 resulting in high cash flow and keeps his property priced at fair market value.

Many people would like to move and put their house on the market, but they're not going to give up their 3% interest to get an equivalent home at 7%, or higher, and pay an extra $400 a month.What this means for you is you'll have to put in extra work finding deals and negotiating them.