Based on your statements you believe that even the poorest in our society should shoulder the same percentage share of this cost as millionaires.

@Joshua Dorkin Laughter goes a long way in this stressful business!  

Unless rents are extremely low in apartments in an area you'd be comfortable renting in with a teenage daughter, you may end up in a tighter situation than you're currently in when considering repairs, moving costs/stress, potential for future repairs with tenant in place, and liquidity to get a tenant in place.This could definitely be a time for creative solutions like taking a withdraw of principal from a ROTH IRA, or good old-fashioned elbow grease with a second job or freelance work for extra liquidity to get you to a more stable arrangement for you and your daughter.From one father to another, you will find the way to make things work and take care of business: it's what we do.

Sorry to hear about all the stress.

My goal is to save your stress and skin on mistakes that I have made- allowing you the opportunity for unique learning experiences.

Is this the stress you want in this life?

The investor goes out to the property and rationalizes and visualizes what changes and repairs should take place and then the contractors draws up an estimate matching the request and wham the numbers don't add up and now the investor is stressed.

With our litigious society you have plenty to worry about, and we all agree, except those true believers, that we would rather be in control of our destiny rather than leave it to the courts.

Modern society (unlike 60 years ago) uses a LOT of electrical devices that draw a LOT of power and we demand to have plugs including GFI's at proper locations.

This combined with ethical business practices, people skills and proper selection of tenants will be my best defense in the litigious society. remember that 15M lawsuits occur each yr in US..that is ~41,000/day!