Also, if there is foundation problem and it is minimal, would it be expensive to correct.

If you have little rent growth and minimal appreciation you will probably have to pay them off to receive enough cash flow to retire. 

The easiest thing to do is set up a semi annual inspection schedule of all your units and then coordinate the required repairs with your handyman to maximize his skills and minimize the number of trips.  

Which in turn minimizes change orders-It helps in getting inspections (plumbing, electrical, hvac, etc). approved.

My costs are minimal and it works great for me as I still have a full time 40 hr a week job and sell RE.

Are you capable of doing any projects on your own with minimal help that could drastically force appreciation of your property? 

We get about 1650 a month in rent, it's a 2/1 in original 1950 condition (very well preserved, clean and minimally updated because I like the 50's tiles)  so rental income is limited due to the size.

hey Account Closed, i had the same idea once i saw deals were not easy. then again, nothing good is easy. my advice to you is don't go it alone, but try to minimize yourself getting cheated... next piece of advice is this: don't buy just a condo yourself, and then expect to buy investment property. your next property, if it's within 2 years, will be considered an investment property, and you will have to put down 20-25%, otherwise wait 2 years. i don't know your situation and life story, but also, it would be much easier to find lenders going from a 2 family to 1 family, than a 1 family to 2 family. as for stocks, i'm into the long game, so Vanguard ETFs, indexes are the way i go. warren buffett has a bet going on with a hedge fund manager; 1 million dollars to the charity of choice if the s&p 500 outperform the top 3 hedge funds of anyone's choosing over 10 years. someone took him on that bet but warren buffett is winning. 

Option 2 is a  3br house in a slow market with minimal updates.

If you are in a good area with good tenants then the month to month responsibilities are minimal.