It looks bad on the tenants each day for a building to be unkept in the eyes of the consumer patronizing their business.     

Just confused as a consumer, how do I know what a given bank uses?

We have just 5 properties, but with turnover each year, it is very time-consuming to figure out security deposit refunds net of any deductions.

I actually only have experience from the consumer side.

The time consuming part is not finding out the date of the auction or getting a list of the properties, the time consuming part is scouting the properties and doing the title search work.  

So more tax's = higher prices as that cost is passed-through to YOU the consumer, and higher price = more profit in that % profit margin. 

What has happened is the consumer expectations has changed and now owners who are use to a different consumer must change or deal with complaints and/or low occupancy.

If this is going to be your first investment, it's important to budget for any necessary repairs or upgrades yourself to ensure a cushion or opt for a different strategy. 

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This negative initial position can consume years of the cash flow.