In addition lower rents will decrease the value of a property, not necessarily its appraised value, because no buyer will desire to pay retail for properties with reduced cash flow.

Or in this case the additional tax on investment real estate in SC. 

Additionally, the price point is still cheap enough to find the 1% rule and positive cash flow and there's amazing appreciation potential.

However, there was a lot of additional paperwork, and I had the capital...So I just opted for the more traditional path instead.  

Might be an additional cost there.If units are updated, capex items look good, leases and tenants look solid, and there are no other regular expenses besides the 5200 in insurance/property taxes then I like this deal.  

Water issues are the most common. 

IE its common in so many areas that the 500k home in Wis sits on a 75k or 100k lot and 300 to 400k is the cost to construct say at 150 to 200 a foot..

Still, this is a poor time in the rental season and 1 months rent can be expected as a cost of vacancy (in addition to the cost to clean and touch up - $900) .Finally and I hope this is is the last one lol - Another tenant is moving out Jan 31st and this unit also requires a full cosmetic rehab.

However, just because I don't agree with it doesn't mean I am in favor of the Government being given additional power to enforce additional laws and restrictions that infringe upon our freedom.

Feel free to share updates or ask additional questions.