With the AZ drought a pool could be in higher demand depending on any water rationing measures.

The rational part of me is saying not to buy - the fundamentals are not all there.

As a businessman and entrepreneur first I like making rational decisions on investments based on cash flow discounting.

A smart investor determines if that demand is rational.

I have a 1BR, 786 sf condo in Queen Anne and will likely rent it out at some point, and from my perspective the rational thing to do is to jack the rent up as high as possible to screen out applicants before they apply.

I am just learning about all this (so hopefully i got the below right) but there are folks here on BP who can help you build the spreadsheets so you can make a rational choice - or at least know what  your options mean :)

However for improvements to prevent weed liens by cutting the grass can be argued as ‘money Spent’ and no cap in this scenario... just rational sense. i,e $5k to cut the grass on a 40’x110’ lot (w/or without structure might be questioned.

If you have a clear criteria and a potential deal fits the criteria, then there isn't any rational reason not to not go forward.

Sometimes those concerns are rational, sometimes not.

If the answer is "yes" I can rationalize going through the headache and financial cost of embarking on something like this.