Being at a slight operating profit or break even is completely fine with my though as I'm not looking at this as some get rich scheme, it's a long-term investment.Based on this, I'm looking now more into getting a more utilitarian STR targeted at business travelers where the goal is similar to my LTR's, getting long-term appreciation and mortgage pay down and making enough cash flow simply to cover repairs. 

One which covers the PMIs and gutter cleanings and one that adds a weekly mowing service during the summer months.

A property may look good on paper in terms of appreciation but might not generate enough cash flow to cover expenses and build long-term wealth.Not Having a Backup Plan:If something goes wrong in any phase, such as a longer vacancy period or higher renovation costs, it can disrupt the whole strategy.

Much prefer the American album cover though...

I would get a professional opinion from a qualified contractor , you may have storm damage already that could possibly be covered by your insurance 

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

Hi @Dave GreenIf you sell the rentals, or even just one, you can use the funds to cover the down payment on a DSCR loan.

With hard money, there are lenders out there where you only need to bring 10% of the purchase price and they cover 100% of construction.

(Of course make sure it covers your costs).

Maybe insurance will cover it.The property manager can't possibly sit in a rental 24/7 to ensure nobody squats.