I'm looking specifically for folks with experience in cities where military and veterans are densly populated.

To have something to waive at folks who grossly overuse and 2.

Seems like a lot of folks prefer SFH, but I bought a Townhouse because it seems like it is easier to maintain (HOA covers external, landscaping, and neighborhood amenities).

If the plumber has to work 2 extra hours because of foolish clogs, oh well. 

That being said, this is mainly doable for folks taking on cosmetic rehabs with great time management/construction management skills.

You could reach out to the folks at The Nature Conservancy and they could provide additional info if that route sounds appealing.  

Other asset classes aren't so the depreciation schedule may not be as quick/beneficial.2) And it is even possible to find deals that are what I call "super-shielders" and which not only shield all the distributions in the investment but have extra to use over on other real estate investments that are throwing off income. 3) Unless you're doing a 1031 exchange  at the end or similar tax structure to defer taxes, you will have to *pay back* all that depreciation benefit at the end (on sale...which for you is in 5 years)  via depreciation recapture.

Typically how  much extra should I budget for, for these unknowns? 

The only way that works is if they have fully connected utilities and it is sitting on some kind of foundation and not on a trailer.Some folks think they are cool, but you really limit yourself on demographics.

Hey, we can't forget about the folks living in those properties!