It is a bit painful, but I commit to staging--unwaveringly. 

They are also very unresponsive, you'll get a lot of upfront communication while you're signing up for things and then they disappear. 

- You've got to go to the property for showing- Many do not show up, so you waste your time- Then you have to have a legally compliant rental application & lease- Some approved applicants disappear the day before or day of lease signing!

I will say, the city of Cape Coral's permitting was painfully backed up at the time, and then they shifted to a new system which caused other delays. 

Quote from @Nate Sanow: Yes I own two that are near 100 years old and I will tell you they are a pain in the you know what compared to all of my post WW2 properties especially post 1980… layouts are better in the last 50 years and energy efficiency is better and I can keep going… HOWEVER to reply to the other aspect of your question, I’ve found appreciation is better with older properties in areas of the path of progress.

“Please, Learn from My Pain”)Leases: Month-to-Month MagicStrangers are like boxes of chocolates—you never know when one’s going to melt all over your sofa.

How much of a pain will it be to manage tenants?

Signing the lease demonstrates they agree to the terms and then you can hold them accountable.If you don't do this, then the person named on the lease and paying the rent could disappear and you would have no legal authority to charge the remaining three for unpaid rent.

I did a loan assumption that is currently a GIANT pain in the ***.

American Banks (like BofA and Wells) actually did lend in CR pre-2008 but that possibility disappeared after the crash.