Emergency repairs in low income areas don't give the same attention from slumlords.

@Blake Milliken You might also want to read through some of Todd Dexheimer's blog posts:https://www.biggerpockets.com/blogs/10145/68178-top-real-estate-markets-to-invest-in-through-2020https://www.biggerpockets.com/blogs/10145/66160-how-to-identify-emerging-marketsI've also been using the Miliken Institute's Best Performing Cities 2017 as a start-off point to look at areas:  http://www.milkeninstitute.org/publications/view/897

I currently have been using the market phase framework from David Lindahl's book Emerging Real Estate Markets--and have come up with a similar assessment.

Are you living paycheck-to-paycheck and unable to handle emergencies?

I would have to vet that trusted person(s) who can manage my property and take care of the emergencies when things go sideways.

I can't blame them entirely, but they don't charge enough monthly fees, so on numerous occasions, the utilities are in danger of being cut off so emergency fee assessments are made to pay them and paid immediately, or they don't have enough funds to do minor elevator repairs.My condos in MA has somewhat of an anti tenant HOA board.

Basement has been dry ever since and glad I replaced the old cast iron drainage so i didnt have to fix a bunch of tenant emergencies of leakage. 

Do you have an emergency contact for them?

I would keep the remaining 50k of savings in a liquid investment that is semi safe as your emergency rainy day fund and continue to save and add to it as rapidly as you can to lower your risk.Being cashflow negative 800-1500 isn't a bad thing if it means you are able to cut out 2000 worth of other expenses, it's called winning!!

Also I would personally stray away from self management if you're looking at buying a couple hours away from your house (unless you have a trust handyman or family/friends in that area) I couldn't imagine driving that far in an emergency situation.