You do routine maintenance on it? 

I routinely say no to buyers under 1 million in commercial.

If the county treasurer does not ask for a valuation then he can sell for the amount of the taxes which is lower than 2/3 of FMV.So it is not law that he must sell for 2/3 of FMV because he is not required to ask for a valuation.It may be his normal routine, but he does not have to by law.

Are you a "slumlord" who wants to spend the least amount of money possible or do you spent a little more money to do light rehabs and pay for routine maintenance plans?

I always request techs to call with a verbal estimate before proceeding with routine items.

This is almost always a bad idea because holding a property in a corporation can limit deductible losses (while gaining no additional asset protection).As a CPA I routinely recommend LLC's to my clients who buy real estate (subject to agreement by their attorney). 

Dealing with your guests is a daily routine.

Our leases indicate we will enter the properties to inspect and perform routine maintenance (HVAC filters, smoke/CO detectors, etc) periodically and will provide notice before each inspection.   

Ah nice, yeah I figure once I do a few I'll get into a style and routine myself.

The banks routinely set a price they would let the property go for at the auction, which has no relation to the amount owed.