Not saying there isn't money in new properties, there obviously is, but I love tearing into an old place and upgrading it.

Depending on where the investment is and how successful that market is doing, I'd tear down a portion and keep Ownership The other part of land to eitherA.

They don't tear things up, they don't party, rent is generally paid early, lots of positive attributes!!

But the places we all encounter that could only have a wheelchair ramp put in that intrudes into the public sidewalk (which neither the landlord nor the tenant owns, and now the sidewalk may not be sufficiently wide or accessible for a wheelchair), or that would require tearing down the storefront's façade (envision a storefront right up against the sidewalk), are grandfathered in. 

Next week we will close on some property (with an old house in need of fixing or tear down tbd) in Buncombe Co currently with unrestricted zoning.

In the eyes of the law, it's no different than a cane or a wheelchair.Keep in mind, just because the ESA is not considered a pet doesn't mean it gets to run rampant, disturb the neighbors, crap all over the parking lot, or tear up the house.

Even successful and furnished properties often need a refresh and at least some additional reinvestment due to wear and tear. - Production: Typically STR production on the Oregon Coast is +/- 10% of valuation.

The stock market has been on a tear.  

My wife cried tears of happiness that night knowing that she would not be on the hook for a $300,000 mortgage.

The first couple is a no-brainer.The second group has too many people, increasing wear-and-tear on the home.