If the place has to be painted, requires foundation work, or needs a new roof, it's the property owner who pays for the improvements. Even though landlords can write those costs off on their income taxes, they have to have an income to write them off against. Expenses can easily climb higher than income. Let's make one thing clear. Any building with more than four units is considered commercial real estate and it is governed by a different set of rules.
Some people think owning rental property is going to be a cake walk.
Then they realize they have to maintain the place. That can be expensive. It gets even more expensive if you have problem tenants. Tenants have been known to destroy rental housing, especially when they are facing eviction for not paying their rent. The eviction process itself can drag on for months, and add attorney and court fees into the equation.