Every problem contains the seed of opportunity-- as long as you have the perseverance and tolerance for it. 

BP here's some terms to consider for your business model: competition avoiding, selects for hardy customers who stick it out, tolerant for varying quality in the finished house.  

Don’t get me wrong, the investment side of things is attractive, but unfortunately I don’t have the risk tolerance at this point in my life.  

As an investor I won't tolerate not knowing what the expense is for exactly, and it shouldn't be difficult to find out.  

Can you tolerate being a landlord?  

I can tolerate it but it does get pretty miserable at times lol.  

But that is what everyone seems to be saying is going to happen because everyone's risk tolerance and knowledge are different.What other tools should I be using to make the decision as to whether or not a property is a good investment?

@Maggie Pena - It is really going to depend on your risk tolerance and goals.  

Make sure in your message to state that late payments are not acceptable and will not be tolerated, and that your rent policies are firm but since they are a new tenant they may have been "confused" (giving them an out for being irresponsible or taking advantage of you) so you will give them those 1-2 days just this ONE time.

@Preet Bains - it is really going to depend on your level of experience and risk tolerance.