This means that mortgage payments eat up 60% of rent even before considering vacancy.

Sounds enticing:  buy property after property for .35 on the dollar, quickly flip it to someone else for a fast, fat profit. 

I know I am old when I have never ordered door dash, uber eats and did venmo for the first time a few months ago.

They can eat the cost. 3.

While the lack of income tax is a huge draw for many, I agree that property taxes can quickly eat into profits, especially for investors renting out properties.

This will help you to understand deal structures from the LP perspective and will give you some credibility if you raise money for others.Also, be prepared to "eat your own dog food" - invest your money in the same deal you're raising money for.

This becomes even more important if you’re a high earner because taxes can eat up a significant portion of your income.

I would expect that to happen.. you eat the time but should not eat the cost of the fix. 

However, tenants have not been great, basically late on rent and/or leaving repairs that eat all profits.

Highs typically range from 87°F at the start of the month to 74°F by the end, with lows cooling between 65°F and 53°F.