Of course it needed some extra turnover work--landscaping, above ground pool removal, cleaning, trash removal, paint and other small amounts of wear and tear. 

For last minute cancelations, the entire amount is non-refundable, for this exact scenario. 

-Max LTARV is typically 75% -Is a 12-24 Month Interest-only loan with a balloon payment - Minimum credit score is typically 600 -Interest on the Rehab is usually paid per the total drawn amount. 

Most PMA's give a dollar amount for repairs and you would have to know what yours.

@Bob Asad at our bank, we have an escrow account for security deposits, it is set up with sub-accounts for each tenant with their security deposit amount and their SSN.

And if it's a high amount, would you be better off just using that as a downpayment and get a standard new investment loan?

I have not thought of using DTI instead of 3x the monthly rental amount in order to qualify an applicants income, but you made a great point regarding the priority that tenants might give a car payment.

Also, rather than taking a large amount of money and investing into one single directly owned property, I can split it up into much smaller chunks across many different passive investments.

Is there a way to reduce the amount of hours so you have more time for other activities?

For insurance you often have to have a certain amount of access to get to furnaces, hot water heaters, and electrical panels.