Appreciation (recovery) in many local areas has been over 40% from 2012-2018, so if values dip again I'd be confident to recommend holding through it.

We set aside a portion of our gross rents each month (usually 15-20%) in a capital improvement account and then we can use that account to fund repairs like roofs, AC units, remodel of kitchens or bathrooms, new appliances etc.You will always find something to spend on , I would spend some time to prioritize your capital spending, and to plan ahead of time for big ticket items to keep your place in top condition.  

Often their position is a result of a lack of education and/or the desire to do what it takes to improve their situation.

I could buy a property with less than ideal tenants and hopefully improve that situation as a value-add.

My advice/warning is to do nothing until you are confident on finding deals, analyzing the numbers, and then making offers.

Owner added $80-120k in improvement.

But both require knowledge about building rehab, improvement, and maintenance. 

If you feel confident in managing the deal/rehab yourself from start to finish, do it yourself.

I want to start slow get my feet wet and build up from there once I do have confidence in what i am doing.

I think people improving housing can really start to change areas here.