The property I got is in the medical center, a $260k, 4 bed, 2.5 bath house, newly replaced roof, 20 year old AC, 20 year old water heater, all old appliances basically, high water pressure, and yeah overall outdated house that needed some touchups.

Cap Ex was relatively high last year due to a water line leak wiped out a good portion of the profits the Cap Ex that year was around 48%of rent since rent was lower.

Just testing the waters.

Now if you have a general person who stops in to do other small tasks or do more property management style tasks (walking through the house to inspect for damages, drop anything off guests may need, change water/HVAC filters etc.)

I cannot overstate the importance of finding a way to build a good rapport with your tenants as early on in the acquisition process as possible, as it will minimize or prevent countless headaches further down the road.When I took over my duplex with an inherited resident in one of the units, I had this conversation with the tenant prior to closing and found out that the toilet in their bathroom was clogging once or twice a week, and their shower head water pressure was super weak. 

Water pressure holds at the meter.

Older buildings, lots of water, insurance issues.

One of the restroom water pipes broke over the weekend and flooded the whole office that would need a major renovation.

I have checked the maps of the department of power and water and the location of the power line is highly inaccurate.

Before you spend any money, you just need to price everything out (i.e. cost of homes, moving costs, installation, hook ups such as electrical, water, etc).