There are a million different opinions so take them and formulate what will work for you!

You can EASILY pass several million to your heirs tax free and avoid at least a $1M in taxes if you spend anywhere near 20 years investing in real estate. 

They usually sell for a really attractive price because investment property financing is (obviously) difficult, somewhat limiting the buyer pool to owner-operator small business owners (who in turn are typically great clients, as well).  

Also look at the area as well in terms of how attractive it will be for people to rent out your units. 

The government is trying to protect people who managed to run their life well enough to buy multi-million dollar homes?

That seminar probably made a million dollars off the sign up fees.

Now as for what happens if a person who just lost a million+ dollar home just bizarrely says "nah, forget it, being a bum in a tent on the beach seems so much better".... well if ya knew the basics of Real Estate you'd know there is policy in place literally everywhere in the US for exactly that.

Are you attractive tenants that meet your screening criteria readily and keeping them as long as you budget for (vacancy rate)?

I kinda get it if 4 and 5 bedroom properties are going for 1.5 million in that market but... thats just math wondering what reality is?

These updates made the property highly attractive to tenants.