That said, there may be exceptions like if you just purchased the property.

Benjamin Franklin was quoted in 1789, “…nothing can be said to be certain, except death and taxes.”

If the house only has one zone, than you are not able to control the heat except at that one location. 

These factors help create a ceiling effect--where, no matter how much the house is worth, there's a limit on how much you can charge in rent.And, as you mentioned--if leverage is involved, the debt service of a more expensive property often overshadows how much you can charge in rent.These factors contribute to rent not increasing proportionately with the price of the house (and there are probably other factors too, that I'm just not thinking of at the moment...haven't had my coffee yet).Having said that, there are some extremely niche markets with rental properties that cater to multi millionaires, and which are extremely expensive (certain areas of LA, for instance...probably the French Riviera --where there are probably lots of transient tenants worth tens or hundreds of millions)...but, those types of markets are obviously the exception to the rule...Good luck out there!

You're simply being paid off for your membership share.The exception to this would be if you yourself actually own a tenant in common interest in the MF property. 

However, it also says "except for those included in state habitability requirement laws" which unfortunately overlap.

Had a very great experience with them except for one thing.

If you have all this go see the property, have it inspected and make an offer if the property has appeal as a STR and its in a good location.You can always back out during the contingency period.Yes, I made a spreadsheet detailing all the expenses (except a property manager).

Cap Rate is useless for those types of properties except as a maybe a curiosity or factoid; it is about as important as what shade of paint you used on the exterior.At 5-units and above, property value is based on income.  

Here are some exceptions to the recording tax.https://otr.cfo.dc.gov/publica...