If we're going to just talk in hypotheticals, of course anything is probably possible anywhere but highly unlikely. 

My advice would be to partner with someone who has additional funds so you can buy something that is of quality. $8k won't get you anything in a class B or A market with 20% down or even 10% down. keep going though!

@Jay Hinrichs which BTW, 6% is high.

For high interest mortgages, usually break even or negative.  

The scope of work, quality needed, location etc will determine the cost.

When they eventually move out, I plan to do a full renovation to bring the unit up to high-quality standards and maximize its rental potential.I’m happy to connect if you ever want to chat.

Once you narrow it down, start with small jobs to test their reliability and quality before giving them bigger projects.Building a solid network takes time, but having dependable people on call is a lifesaver for your rentals.

Our area, Destin FL. is somewhat new for AvantStay and they have had some growing pains with their resources in this area, BUT it has not impacted our experience or their quality of service.

The license doesn't cost more, the service and quality does.And a note on that cost, in my experience hiring contractors, only a small percentage of the cost savings was due to finding the right guy who is willing to work for less.

They can't assess all the subjective data like overall layout, view from the living room window, the dogs next door that bark all day, the width of doorways, size of individual rooms, quality of kitchen cabinets and appliances, etc.The best thing to do is study your market regularly.