If a Cost Segregation Study had not been performed on this $60,000,000 multi-family property located in Murray, UT, it would have had first year depreciation of approximately $1,963,636.

In a 4 bedroom house we rent out in a nice area of Los Angeles a renter said he would re-landscape the backyard for just the cost of material.

Where I mention the 3-5% delta on a second is that is what it will cost you from a traditional bank (for example a HELOC or 2nd mortgage).

He rehabbed a vacant 4-unit property without ever asking.

also, all in purchase + rehab of <$100K, while possible, has the potential to put you in challenging areas with very, very gnarly rehabs.

All that opportunity cost incurred because I didn’t feel ready to go big.  

I think mine cost about $1200.

Make sure you use a company to process the payments this usually costs about 5 bucks a month in my area. 

Is climate or the costs of owning a property in more 'risky' areas something you consider when investing? 

This is usually based on the proportion of the down payment, mortgage payments, and other costs each party contributes.Financing Details: Define who will pay for what.