The real estate investing industry uses "Classes" to rank property performance risk, but there's NO agreed upon industry model:(Here's what we use for our Metro Detroit market:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

I don't remember the precise words, but essentially he claimed that there was some sort of standard rental agreement applicable to the area and he could not (perhaps in reality would not) add anything to it at all, which struck me as oddly questionable.

Lowering your standards invites expensive evictions and repairs. 

(It costs 10k+ to drain, clean, refill the pool so I only do it once an year and this is pretty standard) I think it is matter of if it looks dirty or smells bad when guests use it.

However, recently I have discovered a small cabin about an hour outside of Salt Lake City on roughly 2 acres of land for sale.

@Heather Bailey while I live in my duplex, I have a standard Hazard insurance policy and I also carry an additional 500k umbrella policy (optional); both policies cover the entire building, but there's no separating it. 

@Thomas FarrellRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Doesn’t YouTube have standards against publishing or promoting fraudulent behaviors?  

They’re not a standard DSCR collateral choice.

When they eventually move out, I plan to do a full renovation to bring the unit up to high-quality standards and maximize its rental potential.I’m happy to connect if you ever want to chat.