I have put about 30 - 40K in improvements and structural improvements in over the last couple years.  

If you buy a property on your own you must substantially improve.

You raise $5K/door (or more) upfront to address deferred maintenance and value-add improvements.

How working without a clear scope of work and a basic understanding of residential construction project management, as @Frank Geiger mentioned, just a vague idea that you're going to begin at the beginning and end at the end, makes it even worse.I started on a very small, limited flip, a basement efficiency apartment.

In the warranty deed that was executed the seller swore to defend my right and title to the Property and all improvements thereon against all others.

Hello, I was looking for the most efficient way for tenants to pay rent?

The stock index fund will probably pay out less dividends & they only sell stocks when the index composition changes so probably more tax efficient.

And to expand a little further on Frank's cap-x comment, during the last recession there were plenty of apartments with 20% vacancy or more, simply because the ownership didn't have the resources to do the capital improvements necessary to attract tenants. 

Also sounds like you might not have the capital for a major improvement if you buy something that needs work?  

Completely new kitchen, bath, high efficiency HVAC, new water heater, everything freshly painted, re-finished existing hardwoods.