Spending on expensive upgrades is not the answer to improve your tenant base in this type of area.Keep the homes habitable, clean, and safe. 

Quote from @Zach Howard: Quote from @V.G Jason: Quote from @Zach Howard: @V.G JasonTo someone just starting out (only option of OOS) who can get access to 200k, but no additional financing at this time but an additional 50-100k max in reserve cash, where might you recommend they start - markets/property type/strategy?

Overall, for every type of property....I would say that keeping up with proper maintenance is what most people neglect.

@Chris Seveney What is their name, and what types of owners/realtors have they called for you?

What made you interested in investing in this type of deal?

Maybe look for a different type of tenant that doesn't leave every year or sell the place if it isn't meeting your other investment objectives.2) As PM's we always seek prior authorization for expensive turns or capital projects, even though the estimates given to our owner-clients are often ball-park numbers.

There are two types of return from a rental propertyCash Flow & Appreciation.I normally also aim for a minimum of 8% return between Cash-Flow and Appreciation.Appreication, nationally, is around 2% to 3% annually.Therefore, your goal is to get the cash-flow to be about 5% to 6%.The issue is interest rates being very high, you would therefore, need to buy at a pricepoint where the numbers still make sense.You can always put down more of a downpayment to cash flow, but that will impact your cash on cash return calculations.Best of luck!

You'll get differing amounts and qualities of leads depending on the type of marketing, but also depending on who you're marketing to and where.

They are not buy and hold forever type properties. 

Forget the lease type that the last owner used...just give the notice.