I think I have a pretty standard screening criteria.

In fact assuming attached 4 small standard San Diego units, my maintenance/cap ex would be $1200 or almost 12% in your scenario.  

Multifamily is the most common one, but some groups also do self-storage facilities, student housing, commercial properties, and others.3. 

Perception of LiabilityLicensed agents are held to higher standards and may face legal consequences if they don’t meet fiduciary duties.

It is standard practice and component level depreciation is encouraged by the IRS.Though it is very important to track you time as you go along.

People don't read STR descriptions you see this alot with international properties where people expect US standards.

My brother in law told me a few years ago that I was the luckiest sob he had ever known but it took me 33 years of living below my means and working hard to buy enough rentals to retire with the same standard of living that we were used to.

@Adam OrtizRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

These are the different properties that are included in the 1031 exchange requirement: commercial buildings such as offices, schools and different establishments that are important for the population, as well as single family rentals, multi family rentals, industrial facilities, and even raw lands are included in the like-kind.

A detailed system for each project level and payment plan for work that gets done to proper standards should show the contractor that you mean business.I believe I'd follow the system described by one of the contributors to this discussion, Tom Shallcross a few days ago.