I know this example is exaggerated, but imagine tearing down an existing home to build a new one.

You will have a lot more wear and tear on the property as you will have people living there 24/7 and staff at all times. 

There's an argument to be made that you'll see less wear and tear from a short term tenant coming and going and spending most of their time out and about versus a long term tenant living in a unit so there's that possible advantage too.

Called the building inspector out and asked him what he would do with it....he told me he would tear it down.Went over to the fire department and asked them if they wanted to practice - they said the environmentalists wouldn't let them.  

Tearing through Frank and Dave's book tonight, because I only listened to a couple of podcasts on this subject before I happened upon this deal.

Currently we are tearing down several older homes and i'm looking for options to fill up about 20 spaces pretty quickly and another 10 long term.

It isn't just the tear out you need, it is also the plumbing, likely new rough in valve, trim kit, tile, wall prep, etc.  

There is usually a lot of tears and pain involved in the process, and sometimes I don’t necessarily like being the last option for these people.  

, then I would look at material that can last longer and sustain more wear and tear.  

I bought one in Charleston SC.. talk about termites.. wholesaler had the deal all buggered up.. so it took about 4 months to finally close.in that 4 months the house went from OK we can fix termite damage to its a tear down.. so we tore it down.. and then our contractor messed up on elevations and it was 4 inchs to low for flood plain .. so we had to take a brand new spec home and spend 20k raising the sucker.. after all that we sold it for 750k cash and still made just under 200k.. so in hindsight we did far better than if we tried to rehab it.. and why we are pivoting to almost all new construction these days.