Going into areas that are 50% below ( the hood) all the homes are sold to investors so it like little  MF SFR's the values only track cap rates IE what will and investor pay for a return. whereas buying a touch above the median homeowners are buying and they dont care about cash flow or rental rates they want quality place to live.

In that case, do minimal touches--if nothing else I mentioned applies. 

The tenant now has to get in touch with her case worker.

Alternatively, if you're able to put a good chunk down payment on a property and the rent(s) cover your mortgage + expenses + a touch more, in an area that you like and know will appreciate, that's pretty nice as well. 

I would certainly take the $80k to reinvest comparing to sitting on the equity over 30 years, but for the sake of my head not exploding with inflated numbers in the future, I wanted to only argue what it would look like to not touch the debt on the property as well. 

My property taxes are high - around 9k a year.I’ve been out of touch with the market this year dealing with an illness and I’m trying to make the best decision cause this is my lifetime investment and extra income.

I know Bigger Pockets touches on it occasionally.

I wouldn't touch a 2 million dollar luxury home. the land cost at 400k is too much as a percentage of the after built value too. we try to underwrite 10% and normally try to buy land that has 5x multiple through zoning or entitlement for additional upside.

So basically they have no protocol on emergency after hours number to get in touch with someone.

Buy it by the 5 gallon pail and keep it available to touch up between tenants.