However, I started out with a small cash reserves account to cover CapEx, Vacancy, and Maintenance.  

(I know I know - this is not the proper cash flow equation because it doesn't take into account vacancy, maintenance and capex) This cash flow does not take vacancy and maintenance into consideration, so that’s the risk.

Here are some pros and cons for triple net leases:Pros of NNN LeasesStable and Predictable IncomeLong-Term Leases: NNN leases often come with long-term lease agreements (10-25 years), providing a stable and predictable income stream.Creditworthy Tenants: These leases are typically with established and creditworthy tenants, reducing the risk of default.Minimal Landlord ResponsibilitiesTenant Responsibilities: Since the tenant covers property taxes, insurance, and maintenance, the landlord's responsibilities are minimal.

Turnkey providers typically charge a percentage of gross rents plus a markup on maintenance calls.

TIA for any advice, and glad to have found this forum.JPIt’s honestly pretty hard to say without comparing to actual units, in general I’d prefer something newer with less differed maintenance (less chance of skyrocketing hoa) plus honestly just being a nicer place to live in.

Market fluctuations, maintenance costs, and the complexities of managing tenants are aspects that require careful consideration and planning.

As a newer investor myself, I agree with Jonathon, go for a "turnkey" to begin with (they are never truly turnkey), get your feet wet in a management and maintenance, then maybe go for the fixer on property number 2. 

Here's a list of tasks where ChatGPT can be particularly beneficial:Initial Client Interactions: Use ChatGPT as the first point of contact on websites to answer basic client queries and gather preliminary information.Property Information: Automate responses to common questions about property listings, such as square footage, amenities, and nearby attractions.Appointment Scheduling: ChatGPT can help schedule property viewings or meetings based on the broker's availability.Market Updates: ChatGPT can be programmed to provide recent market statistics, price trends, or news to clients on demand.FAQs: Handle frequently asked questions about the property buying/selling process, brokerage fees, or other standard real estate queries.Document Explanation: Brief explanations of common real estate documents, terms, and jargons, ensuring clients have preliminary understanding before detailed discussions.Lead Qualification: By asking potential clients a series of questions, ChatGPT can help in initial lead qualification, filtering out those who aren't serious or ready to move forward.Feedback Collection: After a property tour or meeting, ChatGPT can gather feedback, which helps in improving services or adjusting property prices.Recommendations: Based on client preferences, ChatGPT can suggest properties from the broker's listings.Follow-ups: Automated reminders or check-ins with potential clients to maintain engagement.Education: Offer brief tutorials or explanations about real estate concepts, market trends, or investment advice.Localization: Provide information about neighborhoods, schools, and local amenities to clients interested in specific areas.Transaction Updates: Keep clients informed about the status of their property transaction, from initial offer to closing.Referrals: Encourage satisfied clients to refer friends and family by sending automated referral requests or reminders.Networking: Introduce and maintain relationships with other brokers, agents, or relevant professionals in an automated yet personable manner.Maintenance Reminders: For brokers also involved in property management, ChatGPT can remind tenants of maintenance schedules or gather feedback post-maintenance.Reviews & Testimonials: Automate the process of collecting reviews and testimonials from satisfied clients for promotional use.Mortgage & Financing Info: Provide preliminary information on mortgage rates, lending institutions, or financing options available.Training: New agents in the brokerage can use ChatGPT for training purposes, asking questions about company policies, sales techniques, or market nuances.Market Analysis Reports: While detailed analysis might require specialized tools, ChatGPT can give general market outlooks based on data provided to it.By leveraging ChatGPT in these areas, brokers can increase efficiency, enhance client engagement, and free up time to focus on relationship-building and closing deals.

Everyone gets access to a portal and maintenance requests are sent digitally.

There are a lot of extra costs that go with home ownership-property taxes, repairs and maintenance, etc.