"With ANY cash outlay I require a MINIMUM of 5-6% on my money.. not including appreciation." So, 9% total ROI including historical rate of return on real estate? "A roof or an HVAC will wipe out several years of potential profits." You don't account for say a $1200/year maintenance expense when calculating yearly ROI whether you spend the actual $1,200 or carry it over to the next year?
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