Appraisers are more likely to tag a property with external obsolescence than not. 

Pros:- It's a conservative strategy that is safe- It gives you a clear goal and doesn't require a lot of external factors to go right to be successfulCons- It takes a long time to see the fruits of your labor- You incur a lot of transaction fees (1031 exchange, loans, payoff, new acquisition)I would like to see included a goal to buy the house 20-30% under market value.  

All the material adds up to about $5,000 covering everything; siding, soffit, facia, fasteners, vents, vent covers, utility boxes, even new external light fixtures.

At some point in time, everyone runs out of their own capital and must rely on external sources if they wish to continue and build their book, however should always have some in reserve so they're not scrambling to close a deal.  

If tenant hesitates to install app I don't get much value out of it.Not clear if you can digitally sign external documents (Ie, CAR lease)TenantCloudProsExtendable WebsiteFlat Fee based (no per ACH Fee)Usable maintenance system, e-signing of external leasesConsNo Mobile App (But website is mobile friendly?)

I did have some investments in towns near by, but problems with finding managers or tenants I liquidated the holdings and changed my external focus to Wichita, KS.  

Greed can potentially lead to greater damage and have harsher lasting effects on oneself as well as to others.

Some high-efficiency furnaces can be routed now to vent externally at ground level.

Highly likely that any future appraisal will mention the halfway house as an external obsolesence issue, a factor that is external to the subject that reduces value.

Many locations have harsher regulations for building above 4 units.