The community property exception does not require that the operations rise to the level of a trade or business or that either spouse materially participate in the operations. 

I would say that it depends on the PM, I personally have a great connection with my local property manager in Memphis, TN and he manages over 700 doors and still answers my clients property management specific questions as the broker/owner.

For example, the 2nd to last photo of a random wall and floor with part of open door; what is that supposed to be telling?

Example if you buy a new build at 300k or a renovated 100 year old home at 300k right next door, both should see the same appreciation. 

One thing that happened back then its the rise of all this private money..

I FIXED THE ROOF AND CHANGED SOME DOORS THE PROPERTY WAS BROUGHT IN GOOD SHAPE !

Landscaping upgrades, exterior painting, new siding, a new roof, and upgraded front doors and windows can dramatically increase ARV by improving the home's exterior appearance.5.

Rising interest rates, slim margins, and unexpected costs can kill a deal fast.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

I'm in a beach area where Sat to Sat rentals have been traditional for 100 years, but not any longer since the rise of Airbnb (and less control by local property management companies).