I have clients who are accumulating assets, so they are focused on appreciation deals (buy low, sell high). 

There was a backup that cause the water to drain slower than usual and the toilet started gurgling and water started accumulating in the shower tub as well.

Considering accumulating a reasonable size portfolio of single family homes in the DFW market.  

When you have accumulated enough cash flow you won't be bothered by the monthly payments. 

It has had me thinking that I might not want to convert any to STR or MTR until I'm ready to pause accumulating for a while.

While I do agree that buying rental property is a great long-term strategy for accumulating positive cash flow and ultimately wealth creation, if you start out buying rental property using all cash you will eventually run out of money.

If institutions start accumulating SFRs I wonder what the consequence will be?

I have also been scouring the internet, BiggerPockets, and have accumulated about 20 pages of typed notes.

Then you have as Dion says, all the accumulated interest & penalties. 

I've been a landlord since 2009 and slowly accumulated 3 properties 7 doors total.