Initially after management fees, repairs and PMI i was losing about $250 per month.

If the water would have came back bad we were prepared to replace the pipe but was told this repair would be around $8K. 

Also, the amount of damage was so expensive to repair that he simply could not afford to fix the more damaged units.

Last, you can do an unlimited amount of repairs to a home using a 203k renovation loan (up to the FHA loan limit), including knocking down the house and building a new home!

It was vital that the house be in close proximity to the one who knew how to do the repairs, because of the technology of our current time theoretically Id be able to monitor and track progress with a trust worthy foreman whos on the job, performing repairs, managing subs, and moving the needle.

Work thru what you would bid on the house, what you think repairs would be, what you think your ARV would be.

I talked to numerous California investors in real life and phone/Zoom calls who have lost money in far away OOS markets, mostly Midwest markets (e.g. repairs, capital expenses, bad tenants, properties vandalized while under renovation, evicted tenant stole all the appliances, property managers with high fees or overcharging for repairs).

That HE loan would make you cash flow negative on the first property, especially considering you are not even factoring in any repairs, maintenance, vacancy or management.

Glue residue can really be a pita, but a judge probably doesn't think so, but will usually respect hired out repairs.

A roof on the 600K property will cost more than on the 300K property, but you have more roofs to repair on the multiple 300K properties.