Rent of $700/month or higher otherwise buying a toilet or water heater is just to much of annual gross rentOnly deferred maintenance I can hire a top tier property management firm to do (I.e. no structural repairs)In this area you can pretty much sell a rental property in under week at 9% cap rate to gross rents if it meets these criteria, has professional management, no deferred maintenance, and vetted tenants. 

No asset class is perfect but I just did not want to spend decades of my life owning residential assets dealing with tenants,toilets, and termites.

You need to evaluate whether you can handle the ‘toilet is clogged’ calls and be firm with tenants when needed.

@Tyler Wittwer You buy toilet properties that look great on paper but for some reason can't be sold to local investors.I kid.But seriously, be careful out there.

You don't want to go out of the frying pan and into the fire, but you shouldn't be afraid to make the leap.

One that can make the space spotless while also making sure you are good on inventory (toilet paper, paper towels, coffee, etc.) 4.

The 1st floor toilet on my rental flooded the other night.

Are you saying you sometimes pay your plumber to fix broken toilet for your tenants from same account you buy your groceries? 

For example, we were able to move into our home with the 203k work completed, and still have 4 dysfunctional sinks, 2 dysfunctional toilets, and zero appliances. 

The numbers pan out for 90% occupancy.