For lower end stuff, the off-the-shelf Sahara Desert Sand paint from Walmart is cheap and a decent lightish beige.On nicer places with better paint I've used Kilim Beige and Ice Cream, both shades look great.

If you are only getting $35 a night, for a whole place, that seems incredibly cheap.

Afterall, that is very cheap. 

so you have two buildings essentially next to each other but one has the added expense of sewer (NOT CHEAP)...the 1/50% rule may cause you to over look a good buy.finally, on your "if" points (if i get the prop for $XXXX and if i can increase rents) remember you should only pay for what the property is currently producing not what it could be producing.  

And SFRs being SFR's over the course of 20 or 30 years owning them you will spend ( especially Mid west rentals that were bought cheap) the amount you paid for them in long term cap ex.So when you think you have a 40k rental.. over 20 to 30 years you will have spent another 30 to 40k in cap ex... this is for certain.. this is why you need some REAL appreciation to offset cap ex and make it even worth owning these things In the first place.

They are cheap labor and are putting up new houses by the 1,000's for not much more than a used home. 

Of course the idea of being able to live with cheap/free rent while someone else is paying my mortgage is so great in itself too. 

Just because something is cheap does not mean it is a good investment, and the opposite is also true.

They are cheap and protects the LLC from a lawsuit.3.

I look at the cheap motels that the contractors stay.