Some owners delay repairs, underfund turns, and create headaches for tenants, which ultimately falls on you.

Flipping is very hard without capital and experience (i.e. impossible) because you would have to rely on contractors who know you are new and will take you for a money ride while your hard money turns over in its grave.

We did a 100% gut/rehab on a 1950's house in 2018 and converted it to a duplex, turned out beautiful, salvaged the original wood floors in parts of the house, put good LVP in the rest, simple plastic mini blinds on every window.

Unfortunately very few who seek out these assets take the time to consider their exit and fail to realize they are the most costly assets to exit, let me explain why: Here's how that disposition process to an owner occupant looks: -You will incur turn over expenses associated with vacating the tenant in preparation of the sale -The natural buyer in this price point is the FHA buyer who will normally seek a 5-6% seller assist  -Passing a Section 8 inspection/preparing a home for a low income tenant is very different than the expectations of a home owner,   particularly the FHA buyer who cannot afford to take on any deferred maintenance.

There will always be things that turn up.

If your reasoning is that you can just use that as a rental while you buy something else (which makes me wonder about your reasoning regarding down payments and closing costs, you're going to have those on the new home you buy), that's not a good reason to turn something into a rental. 

Turn the rental around and find a replacement tenant quickly.

Some investors may be turned off by this b/c it means they have to compete with the open market, others won't care.what are my goals on the cold call?

What that turned into was places that should rent for $750 (for example) getting $1300 or more in rent and section 8 put their foot down and said, if you want top end rents your property better be upgraded top end.

It also depends on whether your next purchase is a rehab, turn key, flip or hold.