Then literally hundreds of these of come across my desk seeking financing - and typically the pro forma looks great while the actual historical financials show almost no more profit than Simple long term rentals after paying management fees, higher interest rates necessary for these type properties, increased repairs and maintenance, and faster depreciation.There’s also a personal reason I don’t invest in these properties ( I DO finance them).  

Make sure to factor in 5-10% vacancy, taxes, insurance, mortgage, repairs & maintenance, lawn care, pest control, management fees, utility costs (goes in your name when vacant), turnover costs, and capex reserves. 

However, houses are frequently, almost routinely, removed from the sale process when the borrower makes a catch up payment or two or when the bank perceives some risk to a sale meaning that the property may leave a deficiency.

Consider factors like retirement, landlord fatigue, property maintenance issues, or asset liquidation.

Both tenants have already used the maintenance feature successfully, and the rent payment works good too.

While a percentage set aside for repairs and maintenance doesn’t mean you’ll necessarily have enough stashed away for this expense it would certainly lessen the blow of the expenditure.

Back when I was doing tons of REOs, I was the one paying for the utilities and yard/house maintenance.

Evictions, resident's passing away, posting notices, doing preventative maintenance walk throughs, resident complaints, neighbor complaints, skips, move outs, turnovers, emergency maintenance, etc.I used to be strictly on the ownership side, from 2016-2020 I hired property managers.

The gas station I am looking into the company states they will take responsibility for repairs  and replacing the tanks and maintenance so is that a good deal?

This will impact you financially, because you will have more vacancy and each vacancy will cost you more money to get it rent ready again.And on the maintenance side, GE appliances or your local plumber don't care what you are collecting in rent.