Many condos have "special assessments" to cover bigger rehabs so they can maintain the appearance of lower cost of ownership.  

For example, I would buy a poorly maintained duplex worth $250k after $20k of rehab at the appropriate discount ($230k or lower), paying 3.5% or ~$10k down and funding the rehab from other personal savings and loans from family.

Good rental history, and is maintained.

Obviously I am sure this varies a bit from state to state as far as enforcement, but overall, Rhode Island does offer protection to the LLC if it is operated accordingly and pays attention to the smaller details associated with maintaining good standing and organization.  

The code states that the if the tenant doesnt have control over the heating then the heat should be maintained at 70 degrees. 

In the United States, generally the property recorder for a town or county maintains a database of liens against property.

You shouldn't have to print anything out or maintain a file cabinet.

It looks nice and will be much easier to maintain than laminate I think.

Some risks being - buying cheap rental houses in questionable areas might mean when you sell in a few years your buyer market could be limited to other investors (not a neighborhood owners want to live in) and the ability of the property to maintain it's value, could be weak. 

City because on paper, a property may have a huge positive cashflow, but they see that sucked up and have to invest thousands more because the property was not maintained over the years.Thats why I always recommend having a property vetted before it's purchased.