I invite you to perform the exercise and find what your cap ex allocation should be.certainly $50/month for maintenance/cap ex and misc is not enough and this property is definitely cash negative when properly allocating for expenses.  

There is certainly a strong correlation to credit score and tenant performance.

Put together a spreadsheet and compare the performance of the subject property if you keep renting it as is for the next 10 or 20 years versus if you rehab and refinance.

Or are they performing some sort of arbitrage and they are not the end buyer.

You have a “full” package including property(s) identified, acquisitions under contract, appraisals performed by MAI appraisers, historical financial statements, pro forma projections, surveys, title reports, feasibility studies3.

All 3 are low due to the low vacancy, but evictions are also low due to the difficulty in performing evictions

While metrics like square footage or price per square foot matter, the number of bedrooms, bathrooms, and overall location are often more critical for attracting tenants.Engaging a property manager early on can save you from costly mistakes and help you invest in properties that perform well in the rental market.

And, past performance is no guarantee of future results. 

Performance is solid.

So if I am looking at an asset as a 10 year play - I look more at the location, schools and how has this market performed in the past excluding covid and 2008 which were extenuating circumstances.Reality is right now shorter term plays do not work based on numbers and cost of financing - we went through this same thing in 2001-2004ish timeframe where properties would appreciate 2-3% per year and after buying costs and closing costs - you were not making money on assets unless you performed the labor or found a really good deal.this is how real estate "typically" is - which is why everyone always says location location location - because after a decent holding period, you will win.