It isn't a matter of questioning the percentage of gross rent that I should be saving for those expenditures, nor the raw amount - rather, it's about what upgrades, appliances, physical modifications, etc., truly end up being worth throwing down extra money for in the beginning. 

There's easier fruit to pick.I heard a smart CPA/investor present a case for buying flood properties on the cheap because of the flood insurance for cash, not getting a mortgage and self insuring. 

My mother had one that would accept and grind up shrimp shells with no problem, but would barf all over any fruit peels.  

A good tree bears good fruit.."

One was raw land, which I improved and sold. 

What about all the poor Chinese miners that are being poisoned half a world away mining raw materials for solar cell production?

I knew there had to be something up as when I walked into the unit after the tenant said she left, there were a swarm of fruit flies buzzing about.Oh, and some interesting notes of my experience with Jane Doe:a) When she hadn't moved out on April 1st, she asked me if I had any other units available. 

My limited experience with improving both raw land and any construction, is that it will take much longer than your worst case estimate, and cost much more, too. 

Secondly the state has plenty of "low-hanging fruit" to attack rather then going after the majority of intelligent landlords with legal if not politically correct lease terms. 

And welcomed.If the best you can offer on a $220,000 property is $45,000, you're p*ssing in the wind, if you'll forgive the vulgarity.Look for something cheaper.I made a decent profit on raw property in WA state many years ago.