If you were to leave at the end of your lease term, those improvements would be needed to attract another quality tenant but the rent would increase.  

In your experience how do rents, quality of tenants, and trying to find tenants vary?

Along with that also comes the opportunity to increase NOI dramatically by purchasing less expensive but more properties.If your spidey senses are tingling about the neighborhood quality you probably ought to listen.

All tenants have favorable and unfavorable qualities.

Quality multifamily assets in most growth markets are in the 4’s to low 5’s.

We have talked about hiring virtual assistants to handle a lot of the smaller tasks we could offload so that we could focus on increasing the quality of our relationships with our brokers, finding/analyzing more deals, raising capital and our weekly podcast we started a few weeks ago.

While out and about evaluating properties, I make use of my smart phone or tablet to make notes, take pictures, do quick calculations, etc... 

From what I can tell areas similar to GC, Burlington, and to some extent Woodbury (high taxes) seem to have higher potential for cash flow but more risk in regards to finding quality tenants.

You will be significantly more competent in evaluating future deals and building a team of quality contractors.

Good quality AC filters changed monthly will cost you almost $100/year.