You will find that those states without sales taxes have relatively high property taxes (regressive) which are impossible to avoid as one either pays them directly or as a component of rent. 

What’s not apparent at the moment, is how will other components of pricing react – namely, servicing values, MBS pricing, and spreads between mortgage rates and treasury rates.

The have a life span, are NOT recyclable only some components are and rest are wildly toxic for a looooooong time.

these are business's with real estate as a component.. just like those that lend money they are in the money lending business real estate is just one of the securities you use to create income via fee's and interest delta.I did a little business with the hotel folks  I think that the Patel's own about 50% of all 100 unit and under hotels in the US..

There is also a PM component.

You're not asking a handyman for an estimate on a broken fence or to fix a door, your asking someone their expert opinion on the overall condition of every major component of a property, and what it would take to fix or replace, right?

8/23/2019  Ben -  congrats  on the property ..that area  is  great and will likely be a profitable component of your portfolio ......assuming you are working with a lender - you might check with them today on locking in your  pricing  ( as rates have taken a nice  dip today) 

Painting over it doesn't work because if the door is rubbing the jam, the  new paint is just going to rub off in a couple of weeks anyway since you just made the components thicker.

Housing is just one component  and you cant dismiss the pressure on Real Estate that comes from the Pacific Rim..

I too like the multiple components of wealth growth from buy/hold real estate....but I admittedly like the 8% appreciation in Denver now.I think there are many REI on BP that are long time and hate too much equity in the property that returns small yield....but, we are a collection on the spectrum of everything from zero debt to 100% leverage.So, you like to own the "future scraper lot".