@Tim Swierczek I'm curious if it has to do with the age of your properties. 

We knew the boilers might be a hassle going in, so the plan is to add gas furnaces and central a/c as the boilers age out, so even if this is a typical expense each fall, it hopefully won't last forever. 

This is a double edged sword, if things turn south it can be just as bad.Refinance is best used in growing market, on top of that the tenant is paying off the principal, So even if your cashflow is low you are increasing your equity each time principal is paid. 

I live in Denver and am trying to grow my buy and hold portfolio.

Corpus is growing, but at a very low pace and I do not have the capital to hold onto a negative cashflow property and bank on appreciation.

When Homeaway began to restrict the ability for owners to see the guest's email address or telephone number I was worried that because I could not talk to the guest when they initially inquired (as was my procedure) I would end up having to cancel bookings because the guest might not meet my requirements (age, number in party, non-smoker, no parties, etc.)

Very passionate about watching Tucson continue to grow and thrive. 

I am originally from the Monterey Bay, but currently reside in the South Bay Los Angeles/ Long Beach area.I was raised “on the fence”, in the sense that I was exposed to much prosperity and poverty growing up.

If they let you go on leaving your wheelie bins out for 3 days, leaving construction debris on your lot, letting your grass grow or parking unregistered cars (all violations in our HOA) and then I come along and add a garage to my property that encroaches on the property line (but still within city code-this is Colorado now) and the HOA tries to stop me they may well be SOL.

Depends on Age and condition of the property, and quality of tenants.CapEx (10%) Until I have the property inspected to determine the current condition of all major components and appliances.