Aside from that, I add specifics into the lease - nails must be kept clipped so as to not damage floors; yard must be picked up no less than twice weekly; etc.

Technically, you pay tax on your net operating income minus any permitted deductions (debt interest, capital cost allowance, etc) - known as Cash-Flow-Before-Taxes (CFBT) and not on the accumulated equity, though I think I understand your perception.Sometimes you can get better returns lending to those folks buying 5 CAP properties.A lot of the money flowing into larger multi-units is either corporate/institutional (ie Brookfield Properties or a REIT) or wealth individuals looking for wealth preservation rather than growth (if I already have 500 million, I am more interested in preserving it than growing it to 800 million).For foreigners there are even scenarios where a small return, say 7% CAP, could be a solid investment.  

I think it's a worthwhile investment and the house will be worth more when you preserve the siding in a fresh paint job rather than cover it up with plastic.

And to @Geo K.’s point, it’s important that you have the right process in place before you apply any systems automation.You want to nail it before you scale it.

The ladies have nailed it!

I was working to fund those purchases ;)Honestly I don't "bet" on appreciation but buy in areas where I and other anticipate appreciation to be above inflation, this preserving my cash flow.

No @Trevor Mauch you nailed it.

Studs, with prolonged exposure, can develop mold colonies, and metal (like nails and screws, metal bathroom fixtures) will rust.

@Antonio Porta nailed it with the "Truth in Lending in NJ" PDF document.

Hi all-I own several hundred homes in Columbus / Dayton and am having trouble finding property preservation companies that might be able to help me.