For God's sake why is this simplistic fundamental detail missed over and over and over again. 

You have way more details about the property than the rest of us, but by the investment fundamentals, this is a liability, not an asset.

I know I’m breaking the fundamental rules here of property management, but should I stop putting up with this?

If plan to invest out of state it'll be crucial to develop your core-4: https://www.biggerpockets.com/blog/core-four-real-estate-tea...Having a solid team around you will be fundamental to your success.

and they are very likely to systematically monitor market rents on a monthly basis and adjust accordingly.The fundamental principle is that if you don't index rent for inflation every year you are essentially giving them a rent reduction.

I'm not entirely following the implications and fundamental differences of the two options.Thanks again!

Thanks for your post Willie,Our rehabs are very basic.I like to refer to them as "nothing sexy or flash but very fundamental"We do our best to fix everything that needs fixed and that could jeopardize the sustainability over the long term.The team is looking forward to hearing from you.Thanks again and have a great day@Rebecca Cirisan, @Isaac Shikwana

Fundamentally, the first deal you do is the riskiest. 

Just looked at some economic data in that area and it looks like they have pretty solid underlying fundamentals: jobs, population growth, desirability, affordability.

This is a fundamental difference from most agents.