Excessive late fees and pre-payment penalties are banned.

My rentals were BRRRs - and even then I used a 10% cap ex rate - which was excessive since furnaces, water heaters, appliances, etc. were new and not likely to give me any trouble.

I believe that the excess amount is considered taxable. 

In my humble opinion, DST is what you do when you either want to 1031 into a passive vehicle and get out of active management (whether you use a property manager or not) or when you have excess money and you want to diversify.

Note all investments, including real estate, carry the risk of loss in addition to possibility of gain.Investors who are retiring or seeking a life style change and would like to take a more passive role in their real estateInvestors who wish to consolidate their holdings of multiple smaller properties into fewer large properties for ease of managementInvestors who are seeking to diversify their real estate portfolio into higher quality investment grade real estate, but lack the experience, resources or capital required to manage or acquire larger institutional quality real estate.Investors who are in their 45 day identification period and are seeking a viable replacement property option to satisfy their 1031 exchange or need a backup option in case their primary property falls throughInvestors who have excess proceeds in their 1031 exchange and rather than pay the capital gains tax, would like to replace it with more property to receive 100% tax deferral.They are very hands off in nature.

It is excessive.

My theory is it's the only way I will ever get any real benefit from the excessive (oh...excuse me...fair share) taxes I pay.

. :)Stay away from gaudy excessive jewlry or large hats, IMO, it's another attention distractor.I failed to mention tats above, so this applies to both men and women, a small tat is fine, if you have badassbiker with a dagger dripping blood, cover it up with clothes.

It is a really nice feature of the house now though, but really excessive for a rental property.

No philosophy, just a fact.Some argue the recent recession was caused by excessive debt of all types at all levels.