Not going to call anyone out, but there's a lot of obsolete information in this thread.

The old ways of marketing such as direct mail, bandit signs, news paper ads, fliers are becoming obsolete and can be very expensive. 

Electrical wire, the door to the electrical panel that was missing was 175 bucks on ebay because it's obsolete.  

Inventory of depressed homes seems to be obsolete.

It's pretty much functionally obsolete.

RISK = Reward.fix operating cost on lower end homes or functionally obsolete homes as is much of the mid west urban core were you can find these remains constant or more than other assets compared to value.

I have been doing this 13 years and have yet to do a roof, water heater (I have a tanked water heater that is 25 years old and has not started to leak), or furnace (but I did obsolete one wall furnace with a split HVAC).In the absence of numbers I believe that the numbers I put forth above are the best available for San Diego. 

That said though, I'm gathering from this thread that HNW investor also are more concerned with the yield and less so with the resulting property left at lease termination.As an investor I do not have a direct interest in any one NNN leased investment, but do have exposure to this asset class through a REIT stock of a REIT going through a transitional phase.I can't tell you how many larger industrial functionally obsolete buildings I've walked through that were former NNN leased investments.

There are great, flexible brokers in every market that would love to have the enthusiasm and the potential business of an investor/agent.Some people think that technology will make real estate agents obsolete in the next decade.

They want to call us all out and 'step up' without alleviating or even addressing the underlying issues that made these programs essentially obsolete in this market.