I put aside 12% for maintenance and CapEx reserves, but this also depends somewhat on the age of the property and whether or not you rehab it prior to renting it.

On the other hand, Like what @Aaron Treloar mentioned, it could be a blessing.  

The other place which I didn't mention is Sevier County, TN (Gatlinburg/Pigeon Forge).  

welcome to BP, make sure to check out the free books, and the free podcasts amazing information there..also as chris mentioned you should check out a few local meet ups. and ask as many questions as you need most of the people here are here to help... 

You mentioned small cosmetic fixes. 

I'm not sure why no one has mentioned this, but under ORS 90, children under the age of 2 ARE NOT allowed to be counted when you are establishing your policy for maximum occupants.You probably know you are permitted (not required) to limit occupancy to no more than two people per bedroom.

These homes will also hold larger groups of people hence "more money"... if you are wanting to find something cheaper, Virgin is an absolutely perfect place to snag a cool cabin that you can put a little money into and make it very "new age."

Boardman was the push I needed to get my RE license and the now my platform to start RE investing.Being a lifelong Chicagoan, I have a great knowledge of what Chicago neighborhood and burbs have to offer.As mentioned I’m a resource looking for resources, so anything I can help with whether its Illinois RE info, Microsoft Excel help and social media help, I’m more than willing to assist.

Depending on the age of the house there may not be much lead.

As Michael Stanton has mentioned, it's first good to know someone in that area.