There are like 37 measures to judge an investment on, so not all investors will have the same needs, but whatever your metrics are, you have to make sure that the purchase fits.

Determine a metric you care about, such as CoC return, or ROE, or IRR, or monthly cashflow amount and use those measurements. 1% rule is just a do the math in your head thing, but in appreciating markets you'd never find any deals to buy if that's all you use. 

I guess you need to dig into the asset and figure out how your preferred return is measured or stabilized.  

CA/FL/HI is typical #1 appreciation market.And you would find midwest as market #3.You measure the appreciation rate by counting the acceleration rate from 10 years average appreciation.

Regular upkeep and preventive measures help protect your inventory from damage or deterioration.2.

A few people out there can count their other work towards the time measurement, because they're full-time investors or otherwise employed in very similar real estate type work.

It just measures decibel levels over time. https://noiseaware.com/EDIT * just realized maybe Noise Aware is not allowed in apartment buildings?

People put these numbers into spreadsheets, but real life isnt a spreadsheet.I am a firm believer though that Yield is a measure of the markets view of the risk in an asset and or market.

I am sure my tax professional can measure up to any CPA regarding rental business structure and accounting. 

Depending on the age of the house, the T1-11 siding may have served double duty as the (structural) sheathing, so if its removed, you may need to take measures to replace it for bracing as well as a substrate for the Hardie.