Sounds like that area is very pro-tenant.What vintage is this 28 unit??

In the case of having to sell as an exit strategy I believe the renovations could make up for the layout most of the house is still vintage 1970's.

If that is your biggest faux pas in being a landlord you're doing great 😊

Forget money, real estate, cars, houses, jewelry, etc.  

If an area that cash fauxs is only selling at 5 times gross rents (say 1,000 rents selling for $60,000 5 GRM) but the same market rent of $1,000 a month is selling for $120,000 10 GRM ya gotta ask yourself why.  

I can't speak specifically to the markets on this list, @Chris Clothier, but I can say that here in California the vast majority of foreclosures are still in the 2004-2007 vintage loans.  

Hate to break it to you, but a profitable investor is the same thing as an "appreciation gambler" as you call us.The only (read again: ONLY) folks who have become rich by investing in midwest cash flow (or is it 'cash faux'?)

However, many circa-1900 midwest houses, as an example,  originally had painted, Southern yellow pine floors -- faux and decorative floor paint techniques were not at all uncommon in lieu of more expensive materials.

Pawn shop, but need something of value (jewelry, guns, electronic devices)5.

I think it is about 20 yo, it is a Kenmore and the washer seems to be similar vintage, that we got used some years ago.