It would cash flow nicely.One item to plan for from the beginning is the exit. 

When an owner replaces or retires certain items (e.g., lighting, HVAC, or carpeting), they can claim a deduction for the remaining undepreciated value of those items.

It’s ran like a business, not a personal investment.Given the heavy workload I have being the CEO/founder of the wealth management company, my wife has set up a well oiled machine on the property management side, due to her perfectionist drive however, it still means that she's constantly dealing with tenants and toilets and replying to items at all hours of the day and night.

You also need a leasing agent, unless you are going to advertise and screen tenants yourself.

Basically almost all the items you mentioned when traveling can be written off to a certain extent.

You need a skillset that you can manage tenant's expectations and enforce the lease with a professional but firm manner.

But if you're holding long term with no plans to sell in near future - better to get them leased up!

One important item to note about bids: most smaller contractors are terrible at estimating.

Their lease is 6 month term with a same rate month to month however, their insurance states the rebuild of their home and fire investigation efforts are going to take 12-18 months. 

Most new construction deals require you to give up to a 10-year warranty on some items while most fix and flips come with very little extended liability after the sale excluding gross negligence which is not stopped by an LLC in any case.