I've had them combine it with purchase price- and then essentially allocating a portion of renovations to the land value because they kept it togehter before allocating. 

Also, if all the units have dishwashers that are functioning, why spend money and time to perform work that is not necessary? 

Build on this by seeking out a mentor or coaching program which actually offers business building help, or combines both real estate and business.Is This the Best Approach for Everyone?

Their combined income met the requirement of 3x the rent.

Those few who did made their money thru a combination of skill AND luck (aka timing). 

The shower issue...over time the valves get hard water build up or the seals break down so the valve doesn't function at 100% anymore...... its in no way a water safety issue....annoying.... but not a threat to the safety of the unit...Microwave....gonna cost you more for a "$20 temporary one" and then having a tech look at the original and then replace the glass.... then just replacing it.

@David Stone Your requirements are not good for most californians, unless they combine the income and etc. 3x on an average of 2500 for a 3/2 makes it 7500/mo.

They have great rental history, their references all checked out and had glowing reviews of them, they make 8x the monthly rent in combined verifiable income, the woman's credit is impeccable, she has a steady bank account balance of at least $10,000, and the guy is a public school teacher!

Some recommend one LLC per property, some recommend combining, and some recommend Series LLC that exist in several but not all states.

Your success is also more a function of your execution as a landlord, you're not going to succeed or fail based on the overall market movement.Hope that helps, and best of luck!