So you may need to supplement more outside money to the purchase.You can always choose to add cash so you end up owning your replacement property with no debt.

Are you thinking that some software will replace a hands-on property manager? 

Over and over, you can be constantly evicting and replacing appliances and doing major repairs.

Does the 60% the condo-hotel takes include the HOA fees or utilities or replacement of furniture/repairs to the unit like plumbing or stuff like towels and sheets etc?

Unbeknownst to everyone until of course we had to replace some drywall and all these needles came pouring out.... hahahahahaha I had some experience too, except it's bunch of pills.

But you have your health and your family....you can replace everything else.

Yes, the thermostat will need to be replaced with a smart one.

What I did was after my sale was under contract and I was down to a couple weeks from closing I started shopping seriously and had my replacement under contract a couple days before my sale closed.

The chimney contractor replaced the cap, but requires the branches be trimmed before he can perform repairs on the chimney because it is still leaking into the fire place after the cap was replaced. 

Purchased it for $65,000.00 and replaced the plumbing, floors, cabinets, and painted for 18k.