The downside is more maintenance and repairs, more toilets, stoves, water heaters etc...Depending on what your goals are for the investments and your acquisition strategy would point you toward one asset class or another. 

In addition, 5% to 8% each for maintenance and cap ex would be way too low in virtually every market but possibly not in high rent San Francisco.  

Are you just wanting a low down payment?

Both ceiling fans have been replaced with fans that are smaller fans with no globes, just regular bulbs; that look very low quality. 

Extremely low vacancy rates, very low turnover, maximized rent trough improvements, create high resident satisfaction etc - all add up to a critical advantage over a 10 year period.I feel lucky that have landed in a market which had both cash flow and appreciation over the last decade. 

This low tier will always have a lot of applicants which means low vacancy.

A friend just bought a remarkable house for a quite low price and loves it there.

Then the other thing is Oregon coast is just Brutal on maintenance especially ocean front or near.. so need to up your cap ex. 

If you had 10 properties, kept your books fairly organized, no entities, and a W2 job or no other income, most firms would be in the low $1,000s. 

@Jacob Hancock-no reason to start with a new build - way too much risk and complexity-start with a house hack with a low down payment loan-if it goes well, do it againgood luck