I will say though, simply put, the one that tends to do it for a lot of people is wood flooring or vinyl vs carpet.

Neither had ever had HVAC, rewired, refinished wood floors, new cabinets, paint, fixtures.

But I’ve found multiple deals in my neck of the woods (Michigan) that fit the required criteria of $300 cashflow per single family and $400 per duplex assuming a 7% vacancy, 5% repair l, 5% CAPEX, 10% PM.

@Ray A DelfiHave you checked out the wood yourself? 

Also, you are correct that wood frame construction is only allowed up to 3 stories.

A back porch was added and turned into 2 simple interior rooms built from wood.

Never,never ever wood tones for the cabinets!  

The actual siding is fine, but underneath the wood is rotting due to age

So I'm going to need both metal and wood fencing at my house.

The big players are Wood Partners or Camden.