- ‘lifestyle’ business – ie simply intended to be run by and to provide an ongoing source of work and income for the proprietors, no clear vision for the long term future?

And you don’t mention whether the fuel source is electric or gas or oil.And all of the above assumed a central heating system; it’s quite possible you have electric baseboards that could lead to other questions ...

Aren't you still fully leveraged, just borrowing from a different source?

Or, how are you sourcing? 

Both as a source of rehab funds and funds to use in other markets that are cheaper

@Milan Patel Take a look at My Rent Source.

They simply have less exterior attack surface to defend.Age and life of components: I sourced average useful life for a laundry list of components from InterNACHI and a few other sources to fill in, as well as my own professional experience. 

I source off-market parcels for some of the development work I do and have had the most success by just calling the owners.

Once you receive an application, run credit checks, background checks, research the information provided on the application, and take the time to contact each and every one of their references and previous landlords; it’s the best way to learn all you can about how they treat a property, directly from the source

I work with the 1-9 unit range so having 10 would fall outside my options and it would be harder for me to source/qualify my clients.