It is also my opinion that our city rental inspection department has been especially unfair with out of state investors lately, and is trying to blame everyone except themselves for our deteriorating old housing stock.

At the same time no matter how much excess insurance coverage you obtain, there will always be a policy exception for gross negligence and even negligence will likely be covered only under reservations of rights meaning the carrier can opt not to provide coverage. 

Funny enough, I ended up renting the property to 2 different parties this summer, both of which commented that it was exceptional value for the price point.

This is not much different than any investor who retires using real estate except that markets and life are not that linear.

I tried calling several PMs to request service and got no callback’s except for 2 (out of 8).That ratio kinda put a bit of fear in me.For the good PMs out there, please keep doing what you’re doing.

Hmmm...the land was vacant (except has lots of illegally dumped trash on it). 

There is no one living in the 32 units but the other units are occupied except for one unit. 

Low crime and good schools except for problematic counties and cities which every state has.

Most don't have power.I have a lot of LTRs that where miraculously untouched except for minor stuff.Our Lake House never lost power.

One exception might have been a 3% construction mgmt fee.