The properties I'm looking at rent for about $1000, so there is profit there, but then I need to account for management fees, vacancies, and repairs.

If you want to invest in rentals it helps a lot to have a profitable business or a hight paying job.  

I have been working on a renovation that is much larger than yours, but has had similar problems (plus a whole lot more).  

If it's a larger organization, feel free to inquire about their different staff qualifications.2.

I had a great conversation with @Kay Kay Singh today about the depreciation of gas stations, and thought I would share some relevant information regarding the tax laws for the general benefit of the BP community.Gas Stations (or 'retail motor fuels outlets' as they're called by the IRS) are depreciated over 15 years, and not 39 years like almost all other commercial properties.If any one of the following three criteria are met: It is not larger than 1,400 square feet. 50% or more of the gross revenues generated from the property are derived from petroleum sales. 50% or more of the floor space in the property is devoted to petroleum marketing sales.Here is the link to the IRS publication on this subject where the above words were take from.

In a SFR, you have to make a careful call.In a situation like an apartment it is a bit easier because you are dealing with a larger number of units. 

I realize you were using it to make a point about various other expenses that could effect the profitability and it works for your purpose. 

If it's a larger organization, feel free to inquire about their different staff qualifications.2.

Nice profit at the end of 20K or so.

Most commercial loans (non owner occupant or for any MFR larger than a 4-plex) require at least 25% down.