If you're going to simply rely on tenants to inform you of problems once they arise, instead of inspecting and performing preventative maintenance, you will have a lot more surprises in the years to come.This sounds like pretty normal damage from a seeping wax ring that has rotted the subfloor.

I know that cigarette smoke has been proven to turn walls inside a home or car yellow/brown but a local property manager I know made the comparison of marijuana smoke to a candle, sage or incense.

I'm constantly thinking about work/life balance and with family, fitness journeys (things like marathons, Brazilian jujitsu, gym, you name it lol) and my different businesses it really feels like I'm burning the candle from both ends and constantly saying this quote from Bilbo Baggins "I’m old, Gandalf.

Candles – TENANT(S) are required to monitor any lite candles or incense.

We have reached the point where we now sand lightly and oil every 2-3 weeks (food safe oil that includes bees wax).

Although I had a lot of experience as a real estate investor when I first became an agent it's a whole new ball of wax. 

Nothing really sticks to the wax, so it is better to remove it before painting.

I am a car guy , a good buff and wax will do .Me , I would tell them verbally that here is 300 for a detail , or go pound sand . 

They also commonly start leaking at the wax ring, and show up as leaks to the ceiling below.

Amy,I've not used them with steam heat, but have used them with hydronic (hot water) systems - both the old-fashioned wax-plug/mechanical kind and the newer, electronic types.Many of the newer electronic one allow the the use of a remotely mounted thermostat and some can even be programmed for set-back times (i.e. during the work day or at night).When compared to manual radiator valves, and the humans who will not remember to adjust them, either kind of thermostatic valve will save you energy and money, but the newer electronic ones with remote thermostats/sensors and, optional programability, will save more.