Others investors drive extra ROI by thing like ability to reposition property for greater profitability and or less risk; ability to rehab property at less cost, ability to identify areas where gentrification is likely to occur, etc. 

We have increased our monthly rent to price ratio from your ~0.75% to 1.1% but the leverage ate up all the extra cash flow (even if the total return is likely higher).You could be a cash buyer and go from your one property to 20 and cash flow 20000/mo but you are still having to buy and manage 20 properties.You can do better on the total cash flow in other markets or rougher neighborhoods, but the story is similar: you are getting an extra ~25-35% in income for 20x the hassle.

So your saying select No Damage Protection and just submit an extra charge when it's warranted? 

Every unit will find a tenant you do not need to intice them with extras that do not put more money in your pocket.

Insurance is expensive, there is a lot of extra maintenance like painting or electric in common areas that don't apply as much with smaller units. 

Vs her current super-chill life, get's special discounts all over the place for being "too poor" and all the while can work cash jobs when wants extra, keeps her bank account low, plays the game to get here "free ride". 

It almost feels like they make it difficult on purpose so they get extra revenue on late fees.

Anyone extra cautious with these types of investments right now?  

I know it seems like a tough task, but can you spend a few more months or a year while you continue to learn to really tighten the budget or find ways to earn a little extra to start from a stronger position?

I think if you have a little extra time, operating a smaller STR business can pick up some good income.