First, I want to echo what @Jaron Walling advised regarding utilizing BP's search and immersing yourself in the vast pool of knowledge here.

I have looked into multi-families in the KC area, and I've seen that a vast majority are around more central part of the city.

Hey AutumnIf you sign up to be a pro member on Bigger Pockets you'll get full access to a complete library of fairly well organized landlord forms organized by state.

IMO, I mitigate the vast majority of missed/late payments and/or eviction by renting to folks with 650+ FICO scores.

The vast majority of the time it is the nurse themselves who are responsible for finding their housing.

If you're in the residential space - flipping or buy and hold single family - you can easily get away with using the free resources - BP has an excellent library of very basic spreadsheets, Google can provide the rest - and letting your accountants and project managers handle the rest. 

Many of these people would make very good investors, but the vast majority will never even buy the first house and if they do, unfortunately their odds of success are about as good as taking their money to the racetrack.

Many OOS investors set themselves up for failure because they don't truly take the time to understand:1) The Class of the NEIGHBORHOOD they are buying in - which is relative to the overall area.2) The Class of the PROPERTY they are buying - which is relative to the overall area.3) The Class of the TENANT POOL the Neighborhood & Property will attract - which is relative to the overall area.4) The Class of the CONTRACTORS that will work on their Property, given the Neighborhood location - which is relative to the overall area.5) The Class of the PROPERTY MANAGEMENT COMPANIES (PMC) that will manage their Property, given the Neighborhood location and the Tenants it will attract - which is relative to the overall area.6) That OOS property Class rankings are usually vastly different than the local market they live in.7) That a Class X NEIGHBORHOOD will have mostly Class X PROPERTIES, which will only attract Class X TENANTS, CONTRACTORS AND PMCs and deliver Class X RESULTS.8) Class A is relatively easy to manage, can even be DIY remote managed from another state.9) Class B usually also okay, but needs more attention from owner and/or PMC10) Class C can be relatively successful with a great PMC (do NOT hire the cheapest!)

The vast majority of lawsuits against Landlords are for wrongful eviction, security deposit disputes, and Fair Housing Violations.

That's where revenues justify an on-site / on-staff PM vastly reducing operational cost's, and a on-staff maint. tech.