That's your job. you should be inspecting the rental at least once a year and looking for things like this that could cause problems.I'm curious why your caulking is completely gone if this is "newer" construction.

Personally, I bought a 3 bed single family home soon after starting my job and had two friends from college rent which covered my mortgage plus a little extra.

@Troy ParkerCongratulations on the renovations and your new job opportunity!

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

Also, co-living situations or top performing short-term rentals can produce a pretty high cash on cash return but again they are pretty active with a high turnover of tenants and guests unless you find someone else to manage them and then you are usually paying a good portion of the profits to the manager.But let's say that you have a job and are not interested in fixing and flipping or a high turnover type of investment and you would rather be a more passive investor.

My goal is to buy one rental per year with price between 150k-250k for the next ten years (if i get to keep my job). 

However my understanding is that exceptions can be made if unexpected life events happen such as job relocation, eminent domain, marriage, divorce, changes to family size, deployment, imprisonment, bankruptcy etc. 

Quote from @Donnie Jones: The harsh truth is that wholesaling is a job, not a means of investing.

My piece of advice would be to research emerging neighborhoods and focus on areas with strong job growth and infrastructure development. 

If you wanted to earn $200k to live on at a W2 job....you'd need to earn significantly more because you'd have to pay income taxes, and payroll taxes on the income; where as taking on debt isn't taxable at all.