Also, our cleaners will report property issues to us through Breezeway and we manage all of the repairs and consumables.  

Hey Quentin, Here are my bits of advice:Prioritize Value-Add Opportunities: Focus on properties that require cosmetic updates rather than extensive structural repairs.

You will have income (rent), but then you'll have expenses: taxes, insurance, repairs, turnaround cleanup, eviction/attorney costs, vacancy factor etc.

One thing I want to be prepared for is repairs and remodels.

I would encourage you to break it down into. 1) single or multi family 2) Buy and hold vs flip --I would definitely buy and hold if you have limited knowledge when it comes to property repairs (you can always flip later).  

@Dennis GallagherIt's my understanding that the "Income-Expense Ratio" primarily use operating expenses as the expense variable, which includes costs like utilities, property taxes, insurance, maintenance, repairs, property management fees, and trash removal, all of which are considered when calculating a property's operating expense ratio (OER).You calculate OER by dividing the total operating expenses by the gross operating income of a property.

Seller would be open to creative financing since house needs foundation work.Asking 300kFoundation Repairs- $40k ( could be way less) ARV- $385 to 400k

This means they will have practically complete control over whom to rent, how much to rent for, and how much to charge for repairs, etc.

I have been in the construction industry, mostly residential renovating, so I know how to spot damages, repairs, and/or things that need to be replaced.

I saw last week that you can get trained on the JOB to repair Elevators and start at $150,000 a year.