i am in Raleigh and I use Jim loose off six forks rd.

 $1,650/mo for the studios and $2,400/mo for the 2 bedrooms are pushing the upper bound of the market.  

They're not bound by Debt to Income ratios, and can be receptive to viewing the investment on its cash flow merit.  

Doing a cosmetic rehab is a good place to start and you're less likely to loose your shirt if a foundation/electrical/plumbing problem escalates.Personal advice:  Don't do the rehab with high interest loans or credit cards because the time it takes can get away from you.  

You loose control, which is a big part of investing in real estate.

Loosing a unit turns a winner into a loser pretty quick.

That's a loose quote from "Think and Grow Rich" by Napoleon Hill.Another quote which seems apropos is from Earl Nightingale: "We become what we think about."

You might loose control.

They will struggle and loose interest. 

From what I know, the agent told me seller is too loose with the tenants, and works with them a lot concerning rents.