Reading can only teach you so much and nothing trumps actually laying down the foundation and doing the footwork on your first deal.

I do almost all of my maintenance and what I don't do I have long-term business partners handle according to my specifications -- lasting fixes when necessary, high-quality paint that can be touched up repeatedly, Whirlpool appliances, hardwood and tile I do myself.I am on the electrical board and the outlets, I am on the roof, I am inspecting the windows, I am on the gutters all the time, I am liberal with the weedkiller concentrate, saving myself money in the long run wherever I can.What happens when you're extended from here to eternity with 75 SFR and three furnaces die in the first heavy cold snap?

Houseflies can lay eggs on food sitting out or even in the drain of a sink, when the maggots hatch you'll have a swarm of flies on your window. 

I always want to be able to lay hands on plus there is something very powerful about showing the tenant their very own smudged signature and initials that YES, they DID know that.

Will the tile in the shower and tubs fall off, etc...   

Also, do you follow the formulas that bigger pocket lays out when you are analyzing new deals?

It is either vinyl, hardwood or tile.

After all this plus mortgage  payment reduction ( I typically only lay 20% down), I require a minimum of a 30% cash on cash roi.

Instead of flying/driving in from LA on a Friday night and spending all of their time in the casinos they are coming in on Friday night, going out partying, laying by the pool all day Saturday, getting dinner and heading to a show/concert on Saturday, and heading home Sunday morning.  

We usually handle our own renovations without a general contractor, but we have the time to be there when needed, have good relationships with electrician, HVAC, tile guy, etc. , and do much of the work ourselves, anyway.