About 16 years ago we rented a place in Destin and it had glass top dining table and glass top coffee table. 

What rent collection software do you recommend and why?

In NY tenants have to give 30 days notice before they move out to give me time to rent out the apartment again.

Will cash flow $128.79 according to the BP rent calculator, and will easily comp out at $235,000

You're going to have to scrap like crazy to break even - think rent by the room, short term, mid term strategies that require more work.

Some have been on the market for weeks", that doesn't bode well for renting of any kind really.

G'Day Alejandro,As a few have already mentioned, take a peak at Toledo also.In my opinion lower potential for long term appreciation but solid/"boring" cashflow.I prefer my portfolio to be "boring" but cashflowing lolLow entry points (Sub $100,000), high rents (Above the 1% rule).Blue collar working class decent folks that will stay and pay.Depending on the area but no derelict homes, yards well kept, cars with wheels and all tenants are employed.Plus, all are sophisticated enough to pay rent online so property management doesn't have to collect rents with bullet proof vests and shot guns lolI'm bias toward Toledo but it's worth considering.Wishing you much success

The calculation uses the following formula: Total Rent Potential x 75% ≥ PITI (plus HOA if any). 

I'm using Baselane for accounting and rent collection.

say you find a solid property in a low cost market for $200K and you buy it.between down payment, closing costs, rent ready / spruce up costs, and lease-up costs, you're probably going to need at least 50-65K in cash.