He discusses capital expenditures, turnkey properties, cashflow, and why he thinks that $40,000 properties won't cashflow.

As for purchasing an existing national-credit Self Storage facility in today's market, returns are simply too skinny to make it worthwhile for the average investor, in my opinion.On the other hand, with detailed site analysis and selection, RV and boat storage can still provide an excellent return with very little Capital Expenditure to get started (aside from the land itself.)

I am able to evaluate the overall condition of a property as well as accurately budget for repairs and capital expenditures. 

Not extra expenditure there.

(these are things such as selling/refinancing/expenditures over say $25k) If it's 3 people maybe you have it 40/20/20/20 You could set it as requiring 61% vote. 

He just wanted to get out from under them with no further expenditures.

Unfortunately at the time, I didn't factor in things like Property Management fees, HOA fees and Capital Expenditures, so I basically ended up losing money each month for the next 3 years.

I know their approach is to rehab the properties to address the major systems and ensure there is at least 10 years of life in them, but I'm wondering 1.) has anyone needed to take on a large capital expenditure on one of their RTR properties yet (and if so, what year into your hold period). 2.)

The state will just "create" more jobs and defined public employee pension benefits to absorb that gain while structurally increasing their expenditures permanently

To best avoid the cash-killing "Capital Expenditures" you have to pick the right type of house, find the right tenant, and take other pre-leasing measures that will reduce your long run turn costs.