Additionally, the super low down payment and powerful strategy somewhat rationalizes paying more for the property than a traditional homebuyer or investor.

If you have no money to close a deal, no rational seller wants to sign something with you in the hopes that you find a buyer and if you don't, it's cancelled.

Now, you quickly realize you are never going to make it to the end without sinking, but you "rationalize" the wind (rent increases) will help, the current (appreciation) will help, or some other future event you have no control over (????)

Unfortunately these areas are also going to have higher operating costs in terms of vacancy and repairs, so you will have to walk the line of making sure the property has a cheap enough price to rent ration, but isn't in a bad area that eats up cash flow in other ways.

It sucks, but it's possible that the rational thing to do is let her stay.... and keep 100% of the security deposit when she leaves. 

My understanding is that after buying few properties one's earning to debt ration reaches such that long term conventional financing from bank does not remain the option.

@Francesca CalabrettaIf you search the forums on this subject, you will find several threads comprising both rational and very impassioned support for common coin-operated laundry (both landlord owned and third-party supplied),  {non, coin-op)  en suite laundry  and only supplying hook-ups and having the tenants supply their own.You competition will help determine what laundry solution it the minimum required to play in your market and which solutions could provide you with a competitive advantage.

As for the folks operating in the darkness and illusion: they can either know they are producing suffering for themselves and others and come to a rationalization as to why it is ok, or they can delude themselves in the same way they delude others into thinking that they are offering actual value.

For example, taxes are only deductible for the part of the year you own the property, so you have to adjust for tax pro-rations, and you cannot deduct any back taxes.

However, I'd encourage you to take perspective of the investors as well - it's hard to rationalize that PM fees should add up to 15% while investors' return is only 6% - particularly since there are examples where we have more competitive structure in more expensive market like CA.