No leverage, not much in the way of repairs as they are all rehabbed with long term tenants. 

At the same time, housing operators are havingto repair damaged units while insurance costs spiral ever higher.Thebottom line: Revenues are falling while expenses are rising.Thereare no quick remedies.

Make sure the lease includes all maintenance and they need to be in charge of all interior repairs.  

I fall into the badly camp (so far until the property stabilizes after 2 to 3 years),  lots of repair issues.

You'll be able to learn the ropes of managing a property and coordinating repairs/renovations.  

Very few repairs and very little drama.  

Key metrics include After Repair Value (ARV), Repair Costs, and Maximum Allowable Offer (MAO).

Come even the slightest ripple (an increase in property insurance, an unexpected repair, etc.) and suddenly you're drowning in a sea of negative cash flow.Also, are you including both professional property management and vacancy in your operating expenses?

Run the numbers, have the realtor run some comps and figure out the ARV (after repair value).

The areas I lack experience in would include construction, repairs and handyman work.