I have a great general contractor and agent that tours the homes, does the work, and finishes up punch list items.

Another area they could improve on is receipt capture.

Whether you want to buy a 2-4 unit place where you live in 1 unit and rent out the rest or do something like a live in flip (where you fix up a house over the course of 2-3 years, move out and sell it to capture a tax free profit), it will mitigate your risk because it is where you live. 

Our current criteria are: no evictions, no bankruptcy, income 2.5x rent, max of 5 non-medical related collection items, and no collections related to unpaid rent or other past rental related obligations.

@Devan Dorzok  Lots of potential items:- How many units? 

There is some helpful items overall about eviction in this guide from MSU that I recommend you keep on hand as a helpful resource if you're going to self manage, but since the daughter is not on the lease, this guide doesn't directly address that issue.

sub too is a very simple concept and there are just a few items that need to be done to be safe this is not voodoo :)

If you want to capture some interest from nurses as well, Bellview is a good area.

Misc being replacing kitchen items, linens, etc etc. 

Is there looming capital expense items that could eat up years of your cash flow.3. what about other regions/types of property.4.