We have military tenants who are on longer orders (4 years) due to teaching positions at training bases...that longevity is much appreciated. 

Plus with longevity, your attorney might not charge as much by the 5th deal for example. 

With my overall goal being passive income and longevity in the real estate market, I do not know what will be more beneficial to this end.Here's what the math looks likeInvestor money: 40kHome cost + Closing: 38kRehab estimate: 15kMy cost: 13k (to cover the rest of rehab)Appraised value: 85k (Low estimate to error on side of caution)Investor ROI = 10% After Repair Appraised Value (IE $8,500)Cash out Refi @ 70% = 59,500= 48,500 to investor and then 11k back to me with a 30% equity in property and positive cash flow of roughly $150 or 11% COC ROIThe alternative to this is to flip the property, take the 31k profit (utilizing the 1031 exchange) and use it to invest in something else.I also want to note that I currently set aside 2500 a month to invest in this endeavor.

I'm also going to plan to do the porcelain tile in the bathroom, because I'd rather pay more now to maximize durability and the longevity of the rental.

I am a believer in building a good team, but I think it is a major hang up for people to try to have all all-stars and if they lose anyone, especially if that person is a single point of failure, the wheels come off.You want to have good people but you shouldn't need great people if you want longevity and to be able to remove yourself.I listened to the book on audio so I didn't get the lacking in the writing department.

Then after it's been replaced recalculate the amount you are accruing based on the cost and longevity of the new roof.  

I didn't mean to induce any anxiety with my original response to you, but seeing how this is a long-term hold, just looking out for the structural longevity of your investment (you don't want to be shelling out even more money down the road, if this can be fixed relatively cheap right now). 

Longevity does improve your chances of approval.

Make sure that you take into consideration the longevity for lifespan of an item and what the cost will be to replace it.

Not too many Rentals, not too few, and I’m always looking for a fixer upper close to me.I have friends that use this similar philosophy keeping active and invested in their work like Rehabbing cars, and another guy enthralled with sail boats.For me; if it’s fun, makes me Useful, has financial upside possibilities, keeps me active and sharp, maybe adding to my life’s longevity...