It’s 100% a tear down.

To really compete with the current home market area I was suggested by a contractor to just go in and tear everything out and replace with a new concrete.

STR puts a lot of wear and tear on your property, and you'll have many more expenses than otherwise.

@John Ringgold*Pet addendum *Trash clause (storing of trash, and or keeping your area clean) *Health and safety clause( blocking entries and exits, fire hazards, grills, candles, smoking) *smoke alarm clause( residents must report when smoke alarm is beeping and should not disable or take it down) * Unauthorized guest clause ( landlord has yhe right to exclude any person not on the lease whom poses to interrupt the quiet enjoyment of the community) *vehicle registration ( disable abled vehicles, expired tags) *damages clause ( outside of normal wear and tear) To name a few

I think the city gives significant tax breaks to rehabbing old properties, so many people are tearing down to the foundation and building a "fresh" rehab. regardless, zillow has a bunch of lots available in some up and coming areas. 

They interviewed several people who were in tears because the best solution for them was to renounce their US citizenship and become Canadian citizens.It is a complete over-reach by our government, but there are not enough people with international income to cause congress to make a change.

They are saying that crack is from wear and tear.

I know that comes after offering, but if you are surprised you could ask for a reduction if everything is at the end of its life.Kitchens and baths I generally guess the actual age by the  style, and add or subtract based on the wear and tear from its use. 

Downside is definitely the lack of control on the tenants but I see some great pluses, less wear and tear on the units - these are usually just people who sleep in your units, guaranteed rent, higher caliber of tenants, personally guaranteed by the company. 

I am very serious when I tell ya to get a "boots on the ground" assistant to help ya while your away and to self manage. hope that helps, now let the haters begin with tearing apart my theory, LOL