Everything you listed as "risks" for flipping can very easily happen on a buy and hold property without the proper education (purchase too high, go over rehab budget, over rehab/ under rehab).There are definitely investors purchasing non rent-ready buildings so a rehab budget comes into play, as well as knowing what materials are best and more sturdy since over rehabbing things for them to be ruined after one year may be costly. 

Their soft close hardware is attractively priced and gives the cabinets a higher quality impression.The cabinet boxes are where they clearly save some money as they are particle board and melamine, but once assembled they seemed sturdy enough.

@Kendall Roberts I would put them on a very short leash.

It is a sturdy brick home with 2 recently renovated units.

We were amazed. 20 years later at our reunion that heavy class mate says she didn't feel human but just like a sturdy board.

It's a complicated defense(as in costly) and pro se isn't the way to win on his part.If your lease expressly forbids pets, Post a three day quit notice, then on day four.... show up with a leash and collar, put the animals into cages, and remove them. 

They are metal/sturdy once installed,  but are very lightweight. 

The outside rails need sturdying up, roof needs a little repair, GFCI needs to go in the bathrooms and carbon monoxide detectors in the hallways.

Keep the tenants on a short leash but chose your battles.

Back deck isn't sturdy, and mold could be potentially dangerous.