Things to consider there would be impact on working capital, uncertainty around 'unknowns' (more risk needs more reward to compensate), and your comfort level and liklihood of a kind of worst case. 

If I can avoid driving to the bank to make deposits then I would prefer to spend the time doing something I find more rewarding. 

That gives you a much better idea of the risk/reward/hassle relationship. 

So, a good tenant in place who want to stay is GOLD to me.If you really feel like you want to keep the rent as high as possible, perhaps reward a good tenant with a small upgrade.

Sometimes your risk reward changes substantially with the types of projects you can get into for one vs the other.As some other posters have alluded to, time constraints drive a lot - a light rehab/cosmetic buy and hold is possible for navigating while having a 'regular' job - and certainly managing rentals while working is possible as well.The last one, and I'm surprised no one has mentioned this - is market specific. 

We may not be in it yet but I see the greater reward coming soon.

There is always risk in real estate investing, but there is also the potential for great reward.#3  Pursue life-long learning.

Rich people focus on the reward Poor people focus on the risk -T.

You don’t reward losers who you want out with money , you throw them out!

Risk=Reward.