Being a licensed Realtor, I feel confident in managing the leases and financials, but depending on the demand for routine repairs and maintenance, that may need to be outsourced which is why I tried to increase my repair budget.

Does it mean that the investors are not reinvesting their profits into more real estate for the needed demand?

Inventory is limited and the demand is high, which equates to some high prices.

I am thinking out loud here but you really should make sure that you obtain a clean/clear Certificate of Occupancy before you close the deal.Even if your lender does not require a Certificate of Occupancy, the City is aware that it MAY NOT issue a Certificate of Occupancy without a garage built on the property.IF you close without this being resolved, the City may contact you as the Owner and (a) demand that you build a garage and (b) inform you that you have a code violation while you have tenants living in the building.IF the City decides that a garage must be built, you could obtain a "conditional" Certificate of Occupancy whereby you either promise to build a garage at a later date/deadline or you make the promise along with paying a bond or escrow to the City.Personally, I would make the Seller pay you for the cost of building a new garage as they are selling the property to you that is not up to code. 

But, if you're like the majority of us, you have a different job and probably a family too that demands your time.

In Toronto an investor would want vacant possession because the rents can be reset to whatever they want based on demand..We only have a cap of 2.2% increase on rents per year.. so assuming the tenants will only realize those gains..You need to understand what the market bears for rental.. if they are already paying market rents and the increases are flexible then there is not much of an issue assuming but I would also get some kinda background reference for each tenant.. you might be assuming a horror tenant..

Unreasonable demands from the city?

Any new apartments being built still can't keep up with the demand.

Become an expect in your area.. up and coming legislation that will impact real estate market, developments happening because of demand of jobs and housing, new companies setting up shop.. adding value to other investors will be appreciated..Best way to network and be recognized for it

In no particular order I have listed some of the most popular markets for out of state investorsCincinnati, OhioDayton, OhioToledo, OhioYoungstown, OhioCincinnati, OhioMemphis, TennesseeSaint Louis, MissouriIndianapolis, IndianaDetroit, MichiganErie, PennsylvaniaLouisville, KentuckyMilwaukee, WisconsinJackson, MississippiEach of these markets is popular with turnkey investors because of the low barrier to entry, high rental demand & high rent to price ratio.