@Rae Chris, finding a "0% down" loan is hard, if not impossible today, even with your first property as collateral.  

There are still liens today leftover fro the 2016 Baltimore City tax sale.

These properties today can throw cash like crazy, but you'll be dealing with a certain kind of tenant and depending on your tenant screening could be looking at higher costs due to poorer tenants.

So, in your example it might be at 9% interest rate which would make the weighted average HIGHER than taking out a mortgage at today's interest rates because the 2nd mortgage would be 3x as much as the 1st mortgage. 2.

We have project management software, Buildium, so the day-to-day tasks there are fairly well taken care of. 

Also the other thing I have seen in the years I have been working those markets  2002 until today..

It's less work than an airbnb and in today's market it can be more profitable than an airbnb. 

While the Fed looks to continue their trajectory of cutting short term rates, I suspect the mid and long points of the yield curve (particularly the 10 year, which is what most mortgages go off of) will stay elevated. 10 Yr treasury today is 4.4%, but if it goes up to 5% or 6%, your mortgage will likely be in the 8% or higher level, which then hits CF even more.  

What I would do today knowing what I know and based on my age (im 54 now).

Build a reliable team on the ground, plan occasional visits, and trust your general contractor to handle the day-to-day.