The permitting department and insurance companies will be overwhelmed that quality workmanship will slip. 

Without this understanding, you are likely to misstep and the consequences can be bad for you and your investors. 

I am not referring to trying to refrain from watching Disney DVDsI am talking about taking adopting a different mindset when it comes to investing.I am a relatively new investor but no longer a rookieI have been renting properties since 2011I currently have five tenants and my business is doing alright.Because I purchased during the bubble bust I ended up getting all cash purchases so I have never had to get a mortgageThis is great for my income and stability picture but bad for having experience borrowing money.Last year I lost a deal because of this inexperience.I want to try something new this coming year.  

Am I going to learn or re-learn truly useful stuff, like the above for how to help mothers with newborns get a right-sized house for the expanding family (which incidentally might benefit Quinton the REI in a bad HML), or is it going to be a bunch of useless mind-numbing junk that makes me want to contemplate self-harm?

Home Depot or equipment rental places rent them as well. 

If you buy multis in bad areas or declining areas you are just asking for trouble.

Most 1800's and early 1900's homes are in nice historic areas or in bad parts of town.

So, there's no depreciation...sorry to be the bearer of bad news, but don't let that deter you.

I am a huge advocate for people respecting the business we are in (this means taking the time beforehand to mentally prep and equip yourself for the great real estate journey you are about to embark on).  

It is in a bad area, where no one wants their business and is old and probably would need $200-500k in work to be habitable.