But at least you will be in control.

If you can't keep control of your personal finances, you are highly unlikely to succeed in real estate investing.

@Robert Rixer what worries me about MSP is rent control, unfriendly business policies and no real large corporate growth.

If you can't keep control of your personal finances, you are highly unlikely to succeed in real estate investing.

However, she still has not signed her lease and I think she is doing it out of spite to provide a feeling of control, IMO. 

Unless you are doing all of the maintenance yourself, figure about 5k yearly for touching up paint, repairing misc. items the guests break, bikes, kayaks, BBQ grill, pool maintenance, lawn service, pest control, replace TV remotes every time someone checks out. 

I'm at 2200 Sq ft with 3 bedrooms, a major living room, and a climate controlled finished Florida room. 

These properties will require more of your time and probably more hands on then the general flips.Also, the further you are away from your property the more control you will lose of it. 

Appraisals are "opinions" of value, it is not a precise science and as such, being the humans they are, appraisers vary in opinions.

Those aren't always nice and could range anywhere from $500-1% a year...that's for sewer and water or flood control improvements.