If you can take on at least 1 or hopefully 2 or more of these functions you may turn a profit if all goes according to plan.

We refinanced to another conventional 30-year loan in the Fall of 2020 while it was still functioning as our primary residence in order to get our monthly payment super low (we dropped PMI, lowered our interest rate, and re-amortized the lower loan amount over a new 30-year term).

The asset protection works as a legal function of existence, its not dependent on SEC regs.

Ideally I’d plan on renting out the 5 bedrooms to nurses that work at the hospital up the street who rotate in and out and keep the first floor tenant long term.

@Jimmy Chao 99% of water intrusion problems are due to improper drainage--namely improperly functioning gutters, downspout and extensions and soil not being properly graded away from the foundation.

You also brought up roofs, I believe the Governor and the legislature is working on a bill to address the 15 year roof issue, it has been identified and I feel good it will be written to protect the home owners with older fulling functioning roofs and still maintain fair good coverages for storm replacement.  

Cash flow is mostly a function of how good of a deal you can find.  

I used some of those for single family investing too.In commercial property Cap Rate has one main purpose -- to assess the value of the property as a function of income. 

But the operator, in my eyes, would only be the people/groups that likely sourced the deal and fill the asset management function.  

As a buy and hold investor mine are: safety (first), security (second), function (third), and aesthetics (looks are last).