These are very nice large units with minimal to no deferred maintenance.

We had a break in last night on one of our projects; fortunately, sheet rock is going in and loss was minimal(due to most tools being on another job site). 

3) itemize your expenses bc you may find out the 50% rule is not accurate for your area. 4) make sure you account for a Third party property manager (this will minimize your issues with non-payment and other tenant issues) I would double check those figures to make sure they are accurate.

If go so far as to say you don't need any office hours at all but instead could manage it quite well with an online portal, call center and contracted "boots on the ground" to handle the minimal onsite physical tasks.

Then you have a Property Management LLC that is the public facing, property managing, lease signing, contractor hiring, etc. entity - this entity holds no assets, has only minimal operational capital and a property management contractor with the holding entity.

I keep it on as the costs are minimal and if something happens, I need electricity. 

I have plenty of clients who are happy to have minimal cash flow but are able to access their beach house in the off season with their family.  

I got a 250.00 policy covering a minimal amount. 

Very minimal outlets/lighting. 

Unless you have been quoted for an interest rate of 4% and a minimal down payment, you're more than likely going to be staring more at something in the 5%-6% range with 20%-25% down, which will completely kill the aforementioned metrics.