Examining the T-12 operating statement is necessary for this purpose, since it gives comprehensive details on previous expenditures and aids in estimating future expenditures as the new owner.Verify that there are no omissions or contradictions in the statement.

The rent is less but compared to the expenditure it’s a much better option in my situation.

I know their approach is to rehab the properties to address the major systems and ensure there is at least 10 years of life in them, but I'm wondering 1.) has anyone needed to take on a large capital expenditure on one of their RTR properties yet (and if so, what year into your hold period). 2.)

Renovations, starting two days post-closure, included overhauls of kitchens, bathrooms, flooring, electrical, and plumbing systems, and the addition of in-unit washer-dryers, with an average expenditure of $33K per unit.

I built a Google Forms and Sheets to track my expenditure and eventually used it balance my spending habits.

Get data on how many calories you're eating as well as the macros, micros, etc... 

It's like trying to answer "How many calories should I eat?".   

Seems to be more valuable than making $2400/year cash flow and that's without large capital expenditures.

Another reason to sell is to avoid a large capital expenditure like a roof, paving, or painting.

In terms of mitigating your risk - particularly if you buy a condo - consider a newer building, steel or masonry construction, a unit on Floor 3 or above where Flood insurance wouldn't be necessary, larger buildings where costs are spread amongst more owners, and buildings with a financially healthy HOA (track record of good management, reserves in the budget to cover large capital expenditures, etc).