My tentative long term plan is to work my way up to larger MFDs via flips and 1031s etc.

I suspect they'd have some sort of fight on their hands if that were to happen.The financials for the board need to be disclosed to you before you buy, but you may need to ask for it.

I seriously think that some landlords (mainly talking about typical private individuals here - not larger management companies) forget about the basics!

Buying all cash reduces your ROI because your investment is much larger than if you were to leverage (get a loan) the property and only put in 25%..

Could this be some sort of an arrangement with Fannie Mae?

Can't you be a remote agent for a larger brokerage in the Capital say?

This squares with all sorts of finance theory including the CAPM.

Use larger size downspouts at least.

Remember that people are living longer which will cause larger growth to the warm weather areas if trends continue as they have been going for the last 50 years.

It seems to me that anyone holding properties long-term would end up with dozens and dozens of depreciation schedules over the years for all sorts of things that would be considered "improvements".