If all is old, not uncommon, then 10% capex might work over a 20 years or longer horizon but keep cash reserves to possibly invest in it much earlier, like in 3 months.

Here in North TX cracks are not uncommon. 

We shall see. just a word to the wise if you have out of state units going vacant more than 60 days be sure to check your  insurance policy many times your insurance is no good if the property is vacant more than 60 or 90 days.. this catch's many people by surprise.. you need to add a vacant home ryder to the policy if your unlucky enough to have a long term vacancy.Having spent the better part of 20 years in the mid west rental game I don't think your going to get very far with a flat rate 10% the better managers simply are not going to do that.. they already don't make much money as it is.. the only profit they really make is on lease up fees.. and mark up on repairs.I have some other creative ways I handled my out of state deals.. but by and large your experiences are not uncommon. 

It is not uncommon to earn 10-12% on your money without ever needing to worry about finding tenants or making repairs.

I hadn't considered the issues of close quartered tenants, problems with the city (although that's not uncommon with SFRs), etc.

It's actually not uncommon.

It's poor behavior, but it's not uncommon.

@Kate Szeto it appears to be a lack of CLEAR communication.Not uncommon in this business!

In my experience though 6 days when there is a holiday around is not uncommon.

These loans generally have a higher interest rate and a 30 year term is very uncommon.