Do market research, use real estate tools, account for hidden costs, and build a good team to meet your goal.

I bought properties needing rehab for the last 24 years, had local contractors complete the necessary upgrades only to be able to max the rents, and sold them a few years later after the numbers stabilized using a 1031.  

While it does add extra time and cost, I think it's worth it to have a more finished looking project 

Do you consider financing for rehabbing? 

House hacking it for a year or so, could allow you to build up extra funds for a future down payment, furnishings, and other costs. 

Utilize the 121 Exemption: Use the $250k (single) or $500k (married) tax exemption after renting for two years to supplement long-term care costs.3.

The biggest concern they are having is over dramatically increasing costs...not so much with rate, but with items like taxes and insurance.

We have a great house we'd love to get but we cannot quite get the down and closing costs right now.  

I currently have 5 mortgages but have not been great at keeping track of the details such as costs associated with each individual property.

But you will increase costs in regards to insurance or lending..You still risk losing the property to any liability that happens at the property or in your personal life.