Probably the biggest thing they do is negotiate the contract: not just Th e price but all the terms making sure the buyer has exit clauses and meets all the deadlines for those clauses.

Under the best circumstances my quick math puts you nearly $700 in the red each month.If your biggest concern is the electrical, why would you assume you can fix/replace everything yourself for only $10k?

@David James your friend is taking the biggest bulk of the risk in IMO.

My biggest concerns are always foundation issues, or a bad layout that can't be easily fixed. 

I am 100% certain my biggest obstacle is finding or hearing about properties before they hit the market.

Biggest advice is that you get educated on the restrictions put on SDIRAs with respect to UBIT and UDFI.

One of the biggest landlords in my city uses this technique and he has made tens of thousands of dollars in extra income by doing this.

My biggest cost would likely be medical insurance, food being the second, quarterly tax payments, normal bills for the home.Is anyone here living off their rental properties?

Also don't investors like putting down the least amount of money possible so they get the biggest ROI and continue leveraging their money?

The biggest answer is "it all depends"!