Maybe the reason you disagree with the dollars is that you are comparing a cash on cash rate of return with actual dollars.

Let's say it's $100 a month and the cost to install a fence is $3,000.

Which ok, I get it, ACH cost money, BUT, RentRedi does not give the landlord the option to pay that. 

We’re fortunate to have an above-average income and live well below our means.This summer, we’ll be moving to Detroit (PCSing in August), and we’ve saved about $120,000 to invest in addition to having funds set aside for the home we’ll purchase in Detroit.The reason I’m posting is that I’m struggling to decide how to best allocate the $120k.

I used to do essentially free consulting with new investors on it but gave it up for some of the same reasons - everyone thinks you can just sit at home and buy good properties across the country that are in great shape. 

Most likely trying to find a sucker to buy this and take over the costly legal battle they are entailed in.So next time someone is like "yeah just get a deed in lieu at closing", think twice about that.Actually, I use the deed in lieu.  

It is going to cost more than you expect, and you'll have that "Oh, crap!

If I had to leave a takeaway from this post before getting too far in it would be that whatever goals are had you have, we have these goals for a reason and typically it does not go exactly as planned but even if it doesn't go as planned, we can pick up where we left off and give it a fresh start.

I try to find their true reason for selling early on.

At this time I manage and renovate majority of all my units to keep cost low but most likely not the best use of my time although I'm skilled at it.