but swapping low end rehab houses... not much risk in most instances.

If you search here you will find several threads discussing renting flats versus renting by the room.There are pros and cons to both, but in a nut shell, renting units is easier administratively: one lease, no housemate drama, tenants carry bulk of utilities.Renting by the room can bring in more revenue, but in that instance each tenant has a relationship with you and not necessarily with each other.  

These ones (equity building, and tax advantages) are a little more difficult to quantify probably because they are dependent on the individual investors circumstances (loan terms for equity building, and tax bracket for tax advantages for instance), and thus they don't get discussed as much, but I am interested to hear what methods can be used to quantify these sources of ROI from an investment property.It is important be able to quantify the ROI of an investment to ensure we, as investors, are achieving the highest and best use of the money we invest. 

Especially when an investor is coming from a congested state, like California for instance, to a place like Texas where there is still plenty of room and land to grow.  

Aurora has already passed a law very similar to Denver's If you go way south of Denver (Colorado Springs, Castle Rock, for instance), the politics get more conservative and the emphasis on property rights starts trumping any complaints from neighborhood associations.About the kitchen .... 

For instance I buy properties at 50 to 30 times rent (acquistion plus rehab).  

In this instance, I am thinking that you might like a lower cost basis because this lowers the amount of depreeciation that you will have to recapture when you sell

For instance Chinese investors typically buy properties cash and consider real estate a "safe" place to hold money (rather than the bank).  

For instance new appliances in furniture and fixtures are depreciated over a fewer number of years than a new roof for example.I save my capital expenditures in a file and verify/provide to my tax accountant at the end of the year for him to confirm depreciation period.

For instance, my first property... purchased for 52K, tax assessed value at 25K, and my appraisal I had done appraised at 68K.