@Mark AndersonMaintenance issues are a PIA when it comes to appliances, but whether or not to provide them depends...I've tried not to provide appliances, but all my units are priced well above other rentals in my area.

I agree with Peter, the parents are the biggest PIA, leaving them off the lease solves that problem.I make them all read and sign a document that explains how stuff works and how to solve simple maintenance issues.  

Thanks Pia and Don I will look into that.

I had one like this but there was one clear PIA of the two.

Despite the potential for appreciation being a landlord in Oak Park is a PIA.

HOAs are such PIAs.

Without considering taxes, cash on cash for me should be north of 12-15% and then adjust from there considering the quality of tenants that will want to live there in direct relation to how much your PIA risk premium is. 

Another rental is in an area with intense rental competition, most callers are a PIA, they know they are in the drivers seat, often no show on appointments, show up late, the list goes on.     

I personally think it will just be a PIA and headache to have to get the materials yourself.

Find an NZ based book or go to a few PIA meetings and talk to some people doing reno's.