In these early stages of learning and developing as an investor, I'm primarily focused on properties that may require the following: paint, flooring, bathroom/kitchen remodel, drywall, light fixtures, exterior landscaping, siding, or new HVAC.

PMI is relatively low. .2-.23 for most of my clients.

Real estate's low liquidity can complicate required minimum distributions (RMDs).

They proved to be a low risk, low cash requirement to get some traction. 

With fresh paint throughout inside and out, brand-new roof, dual HVAC systems, updated water heater, stainless steel appliances, lighting fixtures, outlets, countertops, and PEX plumbing just to name a few.

Many investors don't realize they've agreed to dump more money into the syndication if it runs low on cash (capital call).

By the time Spring comes around, they are used to the new rent.I have low turnover in part because my rents lag the market.

They can find things but if they require say overhead lighting and you don't have it that is a bigger issues then small fixes. 3. 

Personally at the spot I am in now I would probably pay cash, as I don't like debt and interest rates aren't that low. 

For example, I am a little concerned about some aspects of the business cycle recovery and a potential for a double-dip so I lean toward the safest part of capital stack which is debt (or low-debt equity).