My wife and I have owned a rental property for just under 5 years now without many issues except for small repairs. 

If you can consistently and accurately estimate repair costs and coordinate contractors, look into Jv-ing with flippers. 

On top of that the turnover is generally much higher in affordable units - along with everything else - maintenance/repairs/vacancy etcSo I think it depends again on the scale.

Have you added vacancy and repair to your monthly expense? 

Lastly having reserves for repairs or anything mechanical wise is good.

Forget trying to walk them through a simple repair over the phone, to avoid sending a ServiceTech and saving an owner money.

Maybe edit the title of this post to attract local agents.And maybe try out the deal calculators on this platform, I believe you can analyze 3 deals for free -you didn't provide any numbers here for us to really chime in.It doesn't sound like this is your first cruise so I'm assuming you have a team assembled and cash reserves in place to cover vacancy/cap x, and repairs etc..I wouldn't kill myself to find a cash flowing deal at the moment - those are challenging right now, but I would more so strive for something that allows you to break even.

The extra DP could be better served split at the start into more deals.If the condo was worth the cash purchase price at the start, the value doesn't go up just because you made repairs, and if it does, it may not go up the full repair cost. 

The only negative is when a tenant cause issue arises they can’t pay for the repair.

Rentals - as a percentage of the portfolio- LTR: 12+ months - 50%- MTR: 30+ days - 30%- STR: < 30 days - 20%Rental Property Plans:BRRRR: Buy, Renovate, Rent, Refinance, Repeat - more interested in this versus Flipping, though will need som of the same skills notes in the Flipping section.House Hack: live in property while repairing - Only with a property that meets current needs.