No property is perfect, especially an older one, but with good management, most risks can be minimized upfront.

By "partial" I mean renovating the kitchen and bathroom, painting the place, re-tiling the floor and maybe adding some smaller features that can make a difference to prospective buyers, such as new A/C units, new internal doors, or maybe even sell the place furnished (home staging is not really an option here); with no or minimal demolition, and hopefully without electricity or plumbing issues.

Lots of sprinting and longer periods where there is minimal activity.Leasing season is 2.5 months of non-stop tenant inquiries and requests.

In Arizona minimally you are spending at least 300k for a decent rental 3bed 2bath 1500 sqft and on avg at least 400k which is going to require minimally 100k down and closer to 150-200 if you want to cash flow where avg rent is the 2300$ range.

I was thinking of doing rental properties near college towns as I think the income would be steady and minimal risk.What sort of capital is needed to get multifamily properties in B rated areas?

Or minimize your mortgage risk by buying one property for cash or little debt. 

Honestly, if you cant carve out at least a minimal degree of time to learn and understand this vast process, Iḿ telling you things wont turn out good. 

Yeah, I am same as Nathan.  6% for minimal work is ridiculous, but it seems to vary on sales price where we live too. 

The low risk requirement eliminated lots of investment types like trading crypto, venture capital, ultra high leverage real estate deals - except for maybe a very small percentage of my investable assets.Since I’ve already accomplished tax minimization by managing to hold the majority of my assets in a retirement plan and paid the taxes to turn that plan into a Roth, number 4 is not a concern.I do invest for current income as second place to wealth preservation, and increase wealth as third place.

Lots of sprinting and short bursts followed by longer periods where there is minimal activity.Leasing season is 2.5 months of non-stop tenant inquiries and requests.