However what happens when the tenant vacates and now the unit has to be turned over/takes a few months to find a new tenant and during that same period of time the sewer line goes and you get hit with that $15,000 cap ex expense in addition to the vacancy and turn over costs.

Inherently the steps are the same as if you were purchasing with financing save potentially less closing costs and ability to close sooner (if needed).The terms of your offer (ie -contingencies, closing cost splits etc) will determine what is different. 

I had a call with Simpletalk a few months ago and seemed pretty interesting but haven't pulled the trigger yet as it is costly.I know services do white labels and people brand it into their own AI call services, which mean a lot of these AI calls may actually be the same service...How much does Air AI cost?

Each one with separate addresses and utilities.We originally put $585k of our own money into the project, and by the time we were ready to go to market in 2023 we were into it for about $2M (the pandemic really threw a wrench in our timeline and costs but also greatly increased the value).

I've done this on one house in order to cut costs - since then, I've added a meter with the utility company but it's a good workaround for the short term. 

I'm with you that sidewalk slip and fall litigation may be less likely in the Midwest than say Mid Atlantic which tends to have more litigious cities but dismissing premises liability issues can come back to bite an investor and when these properties have such razor thin margins that an investor must consider the cost benefit analysis of safety against ROI, there is a real estate issue and is usually a losing proposition.   

Pretty easy to get a $6,000 to $10,000+ sewer dig up and replace cost if it's a perfect wide-open area.

@Yooni Choi managing from out of state (OOS) with ZERO previous landlord experience - probably won't go well.You WILL make a lot of mistakes that will cost you money.

I have been in Milwaukee WI for quite a while as investing in my backyard in NY is cost prohibitive. good luck on your journey!!!! 

You will also need about 6 months of reserves deposited in a traditional financial institution rather than a crypto account.The next step is to find the target property and calculate the acquisition costs and costs of construction along with the after-repair value.