There is no management in these properties as the tenant takes care of everything, especially if it's a ground lease.    

@Rebecca Six I'm curious, how much of your initial capital went into the ground with turnkey single family homes you purchased?

We have built close to 40 properties in  in-fill neighborhoods from the ground up and investors have purchased those properties for the purpose of long-term buy & hold.  

The main way to alleviate that would be having "boots on the ground" so to speak by utilizing a property manager.For example, you can purchase property in Midwestern states for much cheaper than here in sunny California.

Turnover is expensive so Ill go with it for now.How would you word telling the tenant that the late fees are going to come out of your security deposit without them giving up hope and running the place into the ground?

At the back of that level, there is deck 10' off the ground.  

But, if you competitors have new wiring with all grounded outlets and/or you find code/safety issues, you should definitely fix or upgrade.Does that make sense?

We put tarps over the ground where the grade is bad, hopefully that takes care of new water. 

@Gita Faust Thank you, the IRS list is shorter than the amount of things @Jeff Kehl listed but I'm assuming the IRS classifies a lot of that stuff in the same category ie; Roofing, Plumbing, Ground Maintenance = Repairs to the IRS.I'm really trying to get a grasp on the monthly numbers to see if this particular property I'm looking at is worth my while, but all this definitely helps.Also does quickbooks online or the regular version have a property management software integrated, I currently use Appfolio at my PM job.

Back where I came from, on the same plot of land they would:- Drill for oil (below ground)- Grow Cotton (ground level)- Install wind turbines (above ground)Gaining you three types of revenue from the same piece of land.