At 809k you lose in every way.

I live alone and can very easily get by with a mini fridge, Crockpot, and microwave, so I don't expect the basement will have a "kitchen," per se.

Great list - one thing you might want to consider adding is comping propertiesA lot of us use excel spreadsheets that VAs can easily use to fill out for each property (listing all pertinent info from how many beds/bath to what was recently sold in the area)Another one would be managing craigslist postings (tracking posts/responses or putting up new posts)

As far as "the pains of renting 4 separate units", most people want to make at least $100 cash flow per unit, which your building will easily do if those numbers do not include utilities.

What are some repairs that are can be easily and effectively done alone or with a friend rather than hiring a whole team to do the job?

Not questioning anyone's judgement, I'd just like to be able to get the year info more easily in the future when I use streetview for RE or otherwise.

Lose the house to foreclosure?

Or even if you have a job transfer, you can't take the property with you and that's a big investment that can actually be damaged unlike a stock that could lose value but truly only exists in electrons that someone can't drive up and smash with a brick.Which comes to the next point.

They were able to do so easily because of a store/retail location they maintained.Just remember its more work and possible more costly.

Losing sleep over the DOS clause is silly and non-productive.