that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

The rust belt has been wonderful for out of state seeking better rental property returns due to the lower purchase prices and cashflow potential. 

With $50k, you likely have enough to get started, especially if you target lower-cost markets or use a strategy like house hacking.

Possibly lower returns than projected because of statutorily mandated interest rates following court judgements.

I don't charge renter's insurance for my lower class properties.

These platforms typically have billing policies where you pay a per unit fee per month to the software and you get regular updates and support each month.There are a number of low-cost platforms available that are able to offer you a lower price by passing along some of the costs to your tenants (payment processing fees, applications, tenant screening, etc).

That is lower than market and puts you in a cashflow-neutral situation, but it is unlikely your residents can afford that.

I would remove debt to a 7-10 year time frame and lower fixed costs, at minimum.

There are some pockets in this lower price range but they are hard to find and sellers won't let them go for the price you want often. 

Just google the following: - special assessment - zombie condos - Florida condos (look for recent news)Since you are not living near the properties anyways, why not look in a landlord friendly state where the purchase prices are lower?