Sometimes the excess expression of gratitude is just another phony act they have to try to convince you they're sincere when they're not.

I'm thinking wood rot from moisture as the brick threshold and roof runoff funnel water towards that area.

As far as flooring Laminates do not hold up that well to moisture (ie water spills, milk spills etc.)

So, I'd figure it something like this:Expenses: $760 (40% of gross scheduled rent)Excess vacancy: $950 (the unit you occupy)NOI: $190Payments as above: $933So, its going to cost you, on average, $743 a month to live there.Be sure to read the sticky thread in the Rental Property forum about the duplex owner who's being terrorized by her tenant to the point where she can't occupy her unit.As far as your PMI question, just do the math.

Suspect areas can have more damage to the unit,turnover,non payers,and excessive management fees (sometimes 12%).It's when you have to deal with problem tenants,evictions,repair issues,etc. that it can take up a bunch of your time.The rate you mentioned for management is normal for my area.Investors only see how much PM's make and PM's see it mainly as a thankless job that pays very little.I can't speak for them but this is the consensus I constantly hear.I looked at the model years and years ago and there is no money in it for a massive headache as a broker/agent.At least not what I classify as a needed return to justify it.Make sure if you use a PM company that they do it full time so they will have systems,processes,and experience in place with contacts as well for repairs.You do not have to use their repair people but it is good to have the network there if you want it.Also build in the PM cost when analyzing a rental and offer accordingly.HUGE MISTAKE is not including PM fee and say you will do it yourself.You try for a few months and then get into a nightmare and no longer want to do it.You hire cheapest PM as you did not figure into your numbers and then the problems start happening.Make sure you include immediate capital repairs to get rent ready when buying and set your reserves as well for vacancy (still pay mortgage if not cash purchase)as well as unexpected items that go out.You have to decide what your main investing goal is.People I know that are already wealthy will spend more to have a property in a nicer area with less cash flow but more appreciation long term and use it more for a tax shelter and refi down the road to buy more properties.Others have it for more cash flow and some appreciation to hold long term and others who want to quit their job and eventually do RE full time are looking to take their small amount and get the biggest bang for the buck regardless of how big a headache it is.

Your repairs can put you in excess of the 50% rule for years.

Have you come across any more excess lots for homes you want to pass along?

But I'm looking for a general purpose handyman who can do basic things (dryer vent installation, moisture barrier repair in crawlspaces, shimming warped doors, etc).

Typically if you shop around they count many inquires as one in a two week period.The drop is nominal at a few points.Now if you are constantly pulling over more than 2 weeks and shopping around until extremes then the algorithm spots something not normal for most home buyers and can start dinging you for excessive inquiries they are not counting together.

Anyway, just my 2 cents, if you don't have a contractor/rehab background, there's always lots of surprises in flips (permit issues, surprise moisture/rot issues, plumbing, electrical, you name it) - I'm sure you've heard some of the stories.