Only with a definitive goal can you accurately assess your options.What I hear you saying is that you do want to build a rental portfolio. 

What percentage do you typically allocate to this with your properties, or when you are assessing a property?  

We've had one cabin that has failed to pay a single assessment since the inception of the HOA one year ago and has wracked up $1750 in late fees. 

The ones I'm very serious about I'll call and get a home owners quote and verify the current assessed taxes to give me a more accurate mortgage payment. 

If other people take aggressive positions and gain or lose money that is their risk assessment.  

@Dallin BlankFoundation issues are common in DFW due to the clay soil, but many investors still profit by knowing how to assess and negotiate these properties.

If purchasing new real estate as part of your reinvestment, a cost segregation study can maximize depreciation deductions, offsetting future taxable income.For effective planning, assess how the sale price is allocated between real estate, tangible assets, and goodwill, as this determines the tax treatment.

Ask the people in Florida who now have sky high insurance and mandatory unplanned assessments, how much value having a paid off property is. 

Too many rentals, too much deferred maintenance, no real budgets, not enough money in reserves.You can still get CapEx in condos....these are called "special assessments" .

I bought it last year and thus far have: 1) Appealed assessed value to bring down taxes, 2) Got better (less expensive) insurance, 2) Rehabbed 3/4 units, and 3) increased rents $300-$400 per unit along the way.