that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Things just require more ongoing expenses percentage wise out of state because you have to pay people to do everything for you and you will have a longer time building relationships with vendors even when getting decent referrals. 

I have 880 credit score, decent savings, and no other debt except for 300K mortgage on my primary residence (worth $1.5 million).

Once I did a portfolio refi, I got all those loans off my credit report and my credit shot up into the 800s very quickly.

I am newly married and have a hefty mortgage myself, but I manage to save a decent amount of money realistically 10-15k a year I have been working as a construction worker as long as I have been working I am a mason by trade and even though moneys tight I know I will be a successful investor even in the current market.

Flip side, for a third of that you are trained to find properties using creative finance taking over existing low interest loans that cash flow and you are buying in decent neighborhoods with every day lunch box Joes that have kids and go to work and pay rent on time. 

I'm sorry to hear that you lost your grandfather @Rachel JaneWith the condo, renting it out could bring in decent cash flow, but keep in mind the $800/month condo fees.

If in the future they try to buy a house, the lender may require it to be paid but that's a long shot. 

They are in decent shape but will get some rehab to bring them up to shape.

You have a decent loan on the place that you won't be able to replace from a cashflow standpoint.So keep at it.