A good, experienced borrower can turn around even an unexpectedly bad deal.

You don't even check for these types of Tenants!!!"

IMO your property is not a good brrrr candidate if rents do not cover mortgage and even more so if they only cover half the mortgage. 

Even if you only averaged 2.8% appreciation annually, which if you've had it 20 years I have no clue how that's true given prices have well more than doubled in that time, youre skipping over the fact that you have been benefiting from that appreciation on the ENTIRE house, not just the % you paid for.  

We originally used an FHA loan with 3% down, took on MIP, and now have a $2,100/mo mortgage with $225 HOA/mo - so about break even on cash flow. 

I maintain these connections by reaching out annually to check in and see if there’s anything I can do to assist them further.If you enjoyed this post, please consider voting!  

I really would want to stay away from any office properties in depressed or even semi-depressed neighborhoods, especially large ones (like a 13 unit complex).

What's even more frustrating than asking the IRS help desk, is asking a Turbo Tax "Tax Specialist".

Do you think it's common for a tenant to sue for an amount greater than insurance can cover, then take your property or even your personal assets? 

BiggerPockets also has a calculator to analyze deals, and I highly recommend you start this as soon as possible, even if you are not ready to buy.