Doesn’t YouTube have standards against publishing or promoting fraudulent behaviors?  

You fail to the systems in place, keep strong standards and the failure rate is light.

In fact assuming attached 4 small standard San Diego units, my maintenance/cap ex would be $1200 or almost 12% in your scenario.  

@Dave AllenRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

When clients come onboard, that process should be explained in great detail and by signing the PMA, you are agreeing with our standard processes and core values.Far too often that process is never fully explained and/or proper expectations are not set, hence new clients try to tell you how to run your business.

I've found the easiest solution is to have a really strong banking relationship and then they will be able to provide non-standard offerings. 

Set a reasonable salary for yourself (based on market standards) to ensure a stable income.

This way, they’ll have a vested interest in maintaining high standards of management.To truly understand property dynamics and support the management team, I recommend spending time on-site.

We don't have the option of going off the gold standard again. 

You also tend to get more frequent and better feedback than with an STR, if you treat your residents well.The last quadrant, unnecessary but not obviously so, is usually as a result of either converting an STR to an MTR or from remodeling above the standard needed.