I expect repairs to be lower than residential because, theoretically, renters won't be going in and out of these units often.

You do not put any effort into it, such as doing home repairs, and you get the money due to your financial investment.

With a quality provider of such plans, you will also have access to meaningful guidance with respect to IRS compliance.   

I'm planning to buy a second home to repair.

I'm curious if there's much of a demand or shortage for higher quality housing for traveling and short term medical professionals.

I manage it remotely and have two trusted people that handle maintenance/repairs/tenant issues etc. 

So i this have plan out as.They are asking $39,000 I would offer $35,000 in cash from a refinance from my current home and $10,000 in  savings for rehab.I have not seen the inside of this house yet , i am having a realtor check it out today, so I will know more this afternoon.Then do a purchases option of $3,000 down and $800 a month for 2 years  and purchase price of $70,000.This is having the the lessee pay for all repairs up to $500. 

Repairs are written off.

Someone mentioned to me that it could be presented to bank for an amount and ask for a credit back for repairs.

In addition, for every repair and purchase of supplies (such as water heater), I always ask for scan copy of receipts, so at least you know he brought a water heater from a legit store.