Renter was almost zero cash flow, but maintained the property for us, no $$$ from our pocket.We rented, for a few month and bought a property, with money saved up, we took out a loan.  

If he can educate me about maintainance issues, great.

The property manager passes the costs to the landlord since it is the landlord's responsibility to cover the costs of maintaining the property.

I have seen people who maintain a storage unit of items to rent to them for extra, particularly washers and dryers, but that is something I would look into down the road to increase your income if there is a demand for it.

We maintain Landlord insurance policies on each property and a 1Mumbrella policy as well.

With a steadily increasing population, a high-demand job market, and exceptional higher education facilities, the Metro-East maintains competitive rental rates compared to other U.S. cities.

I assume that you are investing for the appreciation, so as long as you can maintain positive cash flow, it seems to be good deal.  

But just as a precaution against issues during northeastern winters we use a company called HomeServe that comes in, inspects the system and maintains a service contract good for one year.

You are also competing with brand new apartments, at competitive rents that are better maintained with better amenities, and are generally in a better location

Either way it could and should last 100 years or more if properly maintained.