Michael nailed it.

Let’s pretend neither of those things happen and you nail it dead nuts on.

A simple example is baseboards: if they're considered permanently attached to the wall like being glued on they're treated as a long life asset, it would damage the wall to remove it so it's like part of the wall; on the other hand if it's easily removable like being tacked or nailed onto the wall it qualifies for 5 year.

Therefore to someone else that has to pay for labor, maybe the labor cost is a deal breaker for most.If you inspect the house and triple check your numbers down to the screws and nails, I do not see how you can go wrong. 

Ken start's by hitting the nail-on-the-head, before running off into fantasy land.... 

@Andrew TaylorYes, BP is a great resource and you kind of nailed it.

For example, if you have a 4-plex with all 1/1s or 2/1s, then maybe you can nail their price range and be booked consistently.SFH/Duplex as MTRThis is actually what I'm doing right now.

You hit the nail on the head.You're right, all the benefits make it so appealing.I think it will continue to be popular in the investing community unless something drastically changes. 

You'll need to crunch some more numbers to get that nailed down.So, the question comes down to do you go out of state for better cash flow or tenant law. 

(My grandfather built his first house with his own hands; my dad, as a kid, straightening the bent nails that my grandfather mis-struck so we wouldn't lose money.)