It depends on your goals, your risk tolerance, what arena you want to play in, and how much or how little capital you want to invest, among many other things. 

Even tolerated multiple delays in submission of documents by sellers.  

These various risk tolerances are what keep real estate inefficient, and allow investors of varying levels to all find opportunity.Good luck!

In terms of emotional risk everyone has different risk tolerance, some people will put every dollar on the line and or take high risk deals. 

Had to replace a garage door opener and a microwave so far, about $300ea  We’ll either move there or raise the rent in 2021 as we decide if we can tolerate the humidity to live on the water. 

I wouldn't get into any partnerships, joint ventures, lending or any such thing until you get a feel for your tolerance for risk and whether you want active or passive investing.

Many investors would not be excited by your example.The answer relates to risk tolerance; supply vs demand; and other factors (location, location)...But sure, one reason why investing in Real Estate works is because renters keep on renting!

You can sometimes find one with a bonus offer that makes the low rate more tolerable.

I have little tolerance for professionals that don't do their job. 

It all comes down to your tolerance to risk and ultimately what you are wanting out of a property: Cash flow, appreciation, least amount of involvement vs. high involvement, safe haven for funds, etc.