This is what $700 a unit in R&M looks like. When we closed on this property, one of the first things I did was clean the gutters. Nobody had touched them in years. Up high we found soft spots in the siding, so we opened a section. That's the picture. Rotted sheathing. The framing behind it soaked through. Some residents were already dealing with mold inside before we ever got on a ladder. A clogged gutter can't move water. So it ran behind the siding and sat in the framing, storm after storm, until the wood gave out. Squeeze an R&M budget far enough and this is the category that gets cut. The gutter cleaning slips to next quarter. A soft spot gets flagged and then nobody comes back to it. None of it breaks the day you skip it. That's the trap. A couple thousand in deferred work becomes five or ten thousand, and it compounds underneath the siding where nobody is looking. You can hold R&M down for a stretch and the P&L looks great. All you have really done is push the cost down the road with interest attached. A clean gutter is a line item. What is behind that siding is a capital project. Deferred maintenance is the only debt that compounds inside your walls.