UNLESS you personally live in that property, you are operating a ROOMING facility and come under the State regulations for Hotels / Motels ....IMO, think again.

I am intrigued by possibly going to a trade school and studying a relevant and useful trade in real estate (plumbing, carpentry, HVAC).

We basically do everything drywall,paint, siding,gutters, concrete,tile, carpet, vinyl, hardwood flooring, fences,landscaping, tree service, asphalt,electrical,plumbing,carpentry.

Dangerous/outdated electrical including hot wires that went who-knows-where, leaky plumbing (water was turned off during initial walk-through).

You may not be ready to tackle all the possible problems this property may have.There may be other hidden issues as well such as unsafe bootleg plumbing and electrical.

He also advised that house has new plumbing, new wiring, and new HVAC within the last 5 years.  

Ill conceived regulations as well as fear and greed may distort prices in the short term, but supply and demand move them in the long haul.

And there are still issues (i.e. unpaved roads, plumbing issues, etc).

Under your logic that might presumably constitute "adding" (not just preserving) life, but it is generally recognized that painting of the entire property exterior may be be expensed (even the IRS explicitly recognizes this in its publications and regulations). 

The plumbing is laid and the concrete is poured.