I wondered if some average the first year ROI into the ROI for the duration of the rental or if they just exclude the closing and updating costs for the first year from the equation.

California's median home price in December was $470,000, which equates to a property tax of at least $4700.

>The only value to appreciation is bragging rights if it is not invested.I agree with this statement but equating having property appreciation to assuming it is not invested would be similar to thinking that you left the equity sitting in your apartment buildings. 

College degree doesn’t equate to success or career but at least you will have a backup if RE has correction which it will just don’t know when.

We find it a lot easier to use the price per square foot equation.

You've obviously never been on the Contractor side of the equation.

and 2) you will likely see that a single C class property in a B+ neighborhood would likely equate to 4-6 of these war zone properties in these batches and the better area is 1) more stable; 2) able to be held onto 'forever'; 3) the sky is the limit as far as future of rents and appreciation; and 4) much less moving parts to achiever a much higher CF and wealth position.

What's legal or "within the landlord's rights" does not always equate with what is "right" or "moral". 

This equates to 67 doors or 6.09 doors per year or $909.09/month per year in passive income.

That will equate to cashflow back in your pocket the following year that you might want to account for in all this.