That's a great plan unless you live in Boston (Jamaica Plains), like my friend, where he can't even buy utility shed.  

Potential Lowest Rent in White Plains, NY (where I work and would like to start living & looking for investment properties): $1,000/month4.

So, if I am reading this correctly, if I am doing plain vanilla buy and rent regular houses in decent shape (no rehabs/distressed properties), GC is overkill.

Still, thinking about it capital expenses are sometimes relative where they would try to repair something that you would rather replace.There is an article that I just read on bp.com about due diligence on buying and retaining rent property, which included getting their insurance to see if the property is in a flood plain.

Turnover, plain and simple.A vacancy in a SFH will be easier to re-rent (in most situations) at the same price-point.

In my opinion, nobody in government (or anywhere else) is smart enough to anticipate the unforeseen consequences of there "mandates"So here is what is going on now.A new proposed ordinance will is going toPut the burden of certifying that rental properties are "lead-safe"Double the cost of the annual rental registration from $35 per unit to $70 per unitRequire landlords to put the lead status of the property into a searchable data base.All tenants to terminate leases and/or suspend some or all rent payments if the property has lead hazards.Fines for landlords who do not show their property to be lead-safe.According to today's Plain Dealer article; the city has inspected 10,000 properties in 2018; and found 10% to have lead violations.

Is the property in a flood plain?

They worry in the Great Plains about the aquifers going dry.

I feel like I am either not fully understanding the concept or my understanding is just plain wrong.

Live in Des Plaines and have rentals in Mount Prospect Arlington Heights and Chicago.