For your smaller deals (less than 30 units) using a 10% vacancy/collection loss factor and a 55% expense ratio is a pretty good place to start the analysis (might be a little conservative from a V&C standpoint).

I use management companies so I don’t need to collect payment.  

Will no rental income be collected?

I am only asking because I have seen this work before with people who have a large amount of rental properties, and would rather someone else manage their properties and still collect 80-85% while they are pursuing other interests.

If not, you may want to consider a refinance on a property to hold you over for a little.Are you waiting a couple of years till you collect retirement income(social security, pension, etc), then maybe doing a refinance until you get to that period of eligibility to collect.

She collected rent by check sent to her address.

Collected $1,800 on the property within 32 days of owning it.

Yeah there’s no appreciation but I’m ok with just collecting the rents every month

I wouldn't lose too much sleep over it and/or try to collect any more than that.

Collecting rent and answering the phone is easy, but getting the right handyman, that you trust to fix it right and for the right price can be trickier.