If your property is up to par you won't really have many maintenance calls except minor stuff such as plumbing clogs which is more likely to happen and requests to turn the AC up or down which you can do on your phone but other than that pretty hands off.Vacancy depends on location and your Padsplit property score the more comfortable you make your property (mini fridges, tv's, outdoor area) the lower your vacancy rate but you can expect about 10% vacancy factor in a Padsplit friendly area (centrally located, easy access to public transportation).

Overall, though the cash flow in my market may be lower, the strong appreciation has made for a higher total ROI and I've continued to buy here. 

thank  you Laura -I do feel good about the compensation as they have been our only boots on the ground as we just can’t use “ friends” anymore ..I also found out that the $500 monthly fee is lifted once the place is rented and she goes to a much lower rate / hourly when things arise .I just thought it was a unique price structure and have never heard of things executed as such before .Thanks again for your reply-Christian

. - OP offers to send handyman to diagnose the lower unit’s issue,  no one suggested this.- OP has not indicated they will involve HOA even though multiple replies suggest doing so.OP asks for advice, but seems to ignore it.  

Rates are typically lower and you can have higher LTV for primary houses, however investment properties is still doable for both 1st lien or 2nd liens as well.

If your primary has a net $1M appreciation you’ll only pay $100k cap gains tax - that’s a lower alternative than what you propose.

If you purchase a newer property that has been recently and properly renovated, you may consider using a lower percentage.The biggest impact on your cash flow will come from the property’s location.

Long-term rentals offer diversification, learning experience, and lower returns but may generate lower returns.

We don't compete, and lower priced neighborhoods still need that service.Everyone starts out with the idea that they are going to work to the highest moral standards, but when you are in the thick of it and you just don't have the cash to close and maybe 10k earnest money on the line, you may start to tell yourself it is legitimate to cancel the deal, after all you have that clause in the contract.

Do NOT give them lower rent!