Location is everything as there are many undesirable areas and if you can be near the hospital thats a plus.

I would do one of two things: Ripping out that portion of drywall and putting new stuff up with a coat of mud is a relatively easy weekend DIY project.

I've already demo'd the old and bought the new sheetrock, just need someone to hang and mud. 

The only thing for, shall we say, 100k is a tiny apartment in a fairly undesirable location...

A week later we had some additional showers in the afternoon, and the leak continues.As I got estimates for repairs and reroofs, I noticed termite droppings inside along some baseboards, and one tenant told me about occasionally spraying of "coffee ground" looking pellets in the closet shelves, so I started to get estimates from termite control companies for fumigation, while one company looked around inside and outside for evidence of drywood termites by observing kickout holes and pellets, he noticed one interior door was totally hollowed out...Poking a hole into it, a a few live moving subterrainean worker termites fell out, inside are some mud tubes. 

But those are eternal rentals with no appreciation and undesirable areas.Cheapest SFH in a decent, trending-upward neighborhood might be had for $50k all-in to rent for $700-$950. 

Note, I say "may be approved" and not "will be approved"... this gives me more leeway to use my discretion.If a tenant has an eviction on their record, they are likely to have some other undesirable history.

And, I suppose I'm dry mud!

We charge1 months rent as a leasing fee10% of the rent monthly as a management fee Or a minimum amount per unit if it is in an undesirable area. 

When mining for gold, you focus on the gold and wash away the mud.