I worked with Kathy Feldhausen for my first property, I was a first time buyer and she was very patient.  

One property I recently found for a client (a large 4 bedroom home with a separate large 1 bedroom apartment in back - I was able to negotiate the purchase price down to $140,000) typically cash flows for $700+ a month, but that's definitely higher than normal, we just were patient and found the right deal and the numbers worked out really well.

I can really only speak for California but I tend to avoid anything older that June 15, 1976 for a variety of reasons from safety, quality of construction, finance ability, resale, etc.

Landlording is a very long-term strategy for the patient.  

I would not do daily visits to collect rent because that situation could get ugly -- don't jeopardize your safety and sanity.If you don't get October rent give PQ notice and start eviction.

I hope you're making the shift due to preferences and not desperation and frustration.If the latter, the issue(s) may very well be be the way you market and a fubdamental understanding of markets, segments, niches and how to reach them.Really, I'm not trying yo insult your intelligence; merely raise awareness of the potential to unlock the real business that you are in...marketing and satisfying customers (whether called clients, consumers, users or patients). 

(I've heard up to $10K, but it could be more).Be patient and look for multifamily opportunities.

OH yes I get 7 to 10% on my notes and they are collateralized by rental houses.. so the DCR is insane its 2 to 3X  and two forms of repayment.. one tenant two the owner.not to mention owner has put 35 to 50% CASH down ... now it simply does not get safer than that. 600 notes in last 3.5 years total of 3 defaults which were quickly cured... talk about safety..

Also if you are using Fannie/Freddie loans, then your safety net is built into their underwriting guidelines as they require you to have 6 months of reserves per property. 

You are in a hot market so make sure to be patient and stick to your numbers!