A miscalculation of price or budget, or failure to secure a renter at the right time and price, can result in big monetary losses.

@Dilini SundaramI'm sad (but no longer surprised) that two days and a dozen comments later, not a single person brought up the issue that we should start with: are you even in a position to offset your income with RE losses? 

Over time, this compounds and leads to “loss-to-lease”.Rent premiums = the additional rent increases you’d be able to get with a significant transformation of the unit / property.

Not all investors want huge losses in year 1.  

Yes, you can elect up to a certain amount for sec 179 without creating a loss. 

My guess is that it's more windows to clean (on both sides), more to cover, dictates furniture and decoration placement, more to potentially require repair, and greater risk of entry from the elements, heating/cooling loss, etc

Having more units helps mitigate vacancy losses and are generally more efficient to operate. 

Yes, you can sue them for breach of contract and potentially your losses associated with this breach.

If your P&I payment is almost 1300, and you collected 1500 for rent, at $100 for insurance, $100 for taxes, $75 for vacancy loss, and $75 for mainantence this deal cash flows negative $150 each month.

You have a couple of long-term rentals with mortgages, and they already show a net loss with the "slow" depreciation.