The past is no guarantee of the future, sure, but what I think you will find in Indy or Cleveland is that in some months and years you will actually be cash flow negative due to maintenance, capital expenditures, vacancies and other mischief. 

Some contracts said the owner will provide lawn maintenance and some contract will say the tenant will provide their own lawn services.

Are there companies out there who can handle the furnishing, monthly cleaning, maintenance of the unit?

@Manoucheka Guillaume we routinely sell properties that are legal non conforming here in the Chicago suburbs.

When the value is less than $60,000 market value; the lender seems a high cost of maintenance compared to revenue generated with that.Good luck

I’ve made a 4% return the past 2 years due to constant maintenance.

Many people just like the look of stucco or feel that it's lower maintenance than siding.

I understand that you’ll need to stash away money for capex and maintenance cost, but putting away 10% from a $3,000 rental versus 10% for an $800 rental in the Midwest does not seem comparable. 

We also know this comes with more maintenance and higher property management cost. 

Word to the wise: everything should be updated and without deferred maintenance.