(My objection wasn't about you targeting who you THINK would be tired). 

I find a kitchen is almost $40/month in cap expense.Note also with RE appreciation and rent appreciation the refinancing can often be done before there is significant equity via principle pay down. 

Now this was advice given as a way to work up from the very bottom but the principle, in my opinion, is solid.

A lot of the same principles apply regardless of geography. 

For a new construction 3, bedroom 2 bath in JSQ area, I can get 2400-2500 at least in todays market - Obviously things could change if the economy tanks in which case I would expect around 2100; which means no cashflow but still paying towards principle and building equity.  

I mean seriously, think about your question objectively.

I calculated that the principle and interest will be $750, the HOA is $325, and I assuming that the property management fee would be around $120/month and taxes and insurance around $150/month (please check me on the latter two costs).

If you're objective is to earn money in the short term then implementing a short term strategy is the way to go.

Tenant may be able to keep drains clean and clear with regular maintenance by pouring down the drain a quarter cup of baking soda followed by a half cup of vinegar.If there is a minor clog in the p-trap (the curved portion) of the pipe under the sink, Tenant may disconnect the pipe, clear the pipe manually, and reconnect the pipe to clear the clog or may call Landlord for assistance.HOME DECORATING.Pictures and shelving may be attached only to drywall walls, using approved hanging devices.Approved hanging devices, such as picture hooks, are available from Landlord at no extra charge.Walls must be returned to their original condition upon end of tenancy.Tenant agrees not to pierce any brick, masonry, woodwork, cabinet or door with nails, screws or any hanging device, as doing so may cause damage beyond repair.Painting is not allowed without prior written consent of Landlord.Holiday decorative lights may be used if they are in good condition, used according to manufacturer instructions, installed at a safe distance from flammable objects, and used in a safe manner, taking caution not to overload electrical circuits.

@Jason Va,My understanding:Rent to Own: you are signing a rental agreement with an option to buy in some form or fashion and most likely the money you are paying for rent does nothing for lowering the principle because you have not bought it.Owner Financing: You purchase the property from the owner and they hold the mortgage.