When I look at the numbers of these properties it seems like a few couple hundred dollars in cash flow and thousands of dollars in fees, repairs, and maintenance? 

That gives you a realistic number instead of a random percentage.For OpEx (repairs, maintenance, turnover), I usually model 8–12% of rents for older homes and 5–8% for newer ones.

You could be asked to perform some intial remodeling to customize or maximize the potential and you "may" also have above average repairs to maintain your property. 

If so, I hope you didn’t make the mistake made by many less than experienced investors and compare the value of a property that you’re purchasing “as is” with no ability to have a professional inspection performed or even see the interior with SFR on MLS that have been repaired, updated, inspected, and maintained.  

As a first-time out-of-state investor, self-managing your properties can be challenging, so I recommend starting with a turnkey property to help reduce the burden and connecting with a reliable local handyman/contractor to handle maintenance and repairs for you.

For long term rentals I do not generally use month to month except in certain circumstances (example, once I had a property come available and was contacted by an agent for an insurance company who needed to place a family for 8 - 10 months while their fire damaged home was being repaired and were offering well above market value rent). 

I feel bad for all of the tenants living in these crap properties with out of state owners who are budgeting $40/ month for repairs, maintenance and capex.

It lets you categorize income/expenses, track payments for mortgages, taxes, insurance, and repairs, and generate reports for year-end tax filing.

Neutral palettes, durable finishes, and a few standout features (statement light, tiled niche, upgraded hardware) to photograph well.Pricing & launchPrice at or slightly below the comp trend to spark day-1 traffic.Professional photos + video + floor plan are non-negotiable.Go live Thursday morning; host strong opening weekend events.Targeted incentivesOffer closing cost credits or rate buydowns via preferred lenders rather than large list-price cuts.Pre-list inspection + repair report on the counter to build trust and reduce renegotiations.Fallback exitsPre-approve a wholetail path (light cleanup, then MLS as-is) if construction risk rises.Keep a BRRRR option: refinance to a DSCR rental if DOM stretches and cash flow pencils.Lease-option or corporate housing as temporary monetization if needed.

I lost a few grand in down payment and closing costs, but with ICE in Chicago, the government shutdown, 2 vacancies; and repairs needed I might have dodged a major bullet.