Thanks for the response, I am comfortable putting a decent down payment down but I still want a good amount of cash to wiggle with for any unexpected things / upgrades before going on the market. 

Or you rent your cousins closet on AirBnB without telling him and he comes home an unexpected guest. 

We had an unexpected vacancy and now need to fill a room.

I'd be up at night worried about water leaking from a faucet, all those pipes just waiting to break, that old window that is about to start leaking, or pests getting in, or mold, or appliances breaking, or tenants causing damage, losing their job or getting divorced or dying, or a tree falling on the house or sewage backing up into the house or any number of unexpected and expensive things that happen at the least opportune times.

I’d ask her if she’ll do a land contract seller finance with 15,000 down and then I would keep it and rent it out let the tenant pay the monthly payment on it at six or 7% interest

Other non-code enforcement issues I look for when doing inspections on my own: change air filter, check to make sure toilets are not running, run water in sinks and check drain pipes for leaks, check for signs of unauthorized pets, check to make sure all windows operate, check all GFCI outlets with a tester and make sure they reset. 

It's the roof, foundation, and electrical issues that were the big unexpected repairs, along with all the little items that add up.

I've seen another forum post about this, but it was a bit old and I didn't see any discussion around the possibility of positive cash flow after moving out. Let

I personally have not seen what she referred to but reached out for my opinion after the landlord sent her an invoice unexpectedly. 

I run the risk of having to do some pretty expensive electrical updates (the structure seems to be built to code and no outstanding issues that are obvious) as the house was built in 1978 and the addition doesn't meet current code as far as number of outlets, separate circuits, and arc-fault circuits installed.In the current market I'm thinking I could sell it as is and probably offload it with a $10-$20k reduction in market value.