Therefore not only do you have to factor in the money to correct this issue, but also the time spent overseeing the project. 

My experience of human nature is that if he already has the money, he's less likely to be concerned about his performance and if we're happy with him or not, etc.Another option is to wait until the summer months where the service calls are 3x/month, and then let the vendor opt to take the $550 average per month - that way we have the leverage if he decides to quit early or if we're not happy with the work - if anything, we would owe him money instead of him owing us service.So one factor is who has the leverage.The other factor is if there's a benefit to having the monthly costs consistent every month - does this matter to you as an owner / property manager?

Cap Ex is a little trickier as it depends on several factors including the hold period and condition of the property.   

Factor these numbers into your costs and see where it takes you. 

I don't know any of your details, but I'm often surprised at what may and may not factor into things.

The kinds of tenants you can attract will be driven by many factors, but the most important, I think, are:- Condition of the unit (is it old and beat up or renovated?) 

For example: appreciation and cash flow are much different factors here in Phoenix than they are in other parts of the country.

Central heat/cool, and currently gets $850 per month base rent, NNN lease where tenant pays (reimbursement) for property taxes and insurance.Lease Term: 10/1/17 – 9/30/2020Base Rent: $850/monthNNN Tenant Reimbursement to Landlord: $170/monthLandlord Annual Expenses: $1,020 water/sewer/garbage, $1036 property taxes, $506annual property insurance.Gross Annual Income: $12,240Annual Expenses: $2,562Net Annual Income: $9,678Zoning CMS Building Class B (Residential 3/1 Home)-Lease Term: Month to MonthRent: $1,100/monthGross Annual: $13,200Net Annual Income: $13,200 Combined GROSS ANNUAL INCOME: $25,440 Combined ANNUAL EXPENSES: $2,562 Combined NET ANNUAL INCOME: $22,878I have not looked at the property, based on pictures looks in good condition & would probably need an inspection report to see if there is anything major that needs to be done but after running the numbers factoring in all costs ( *considering this would be a cash purchase) the ROI would be around 9%.

If you are managing the property and are being compensated that is considered professional real estate activity and you need a license.Now if the property was put into a legal entity and you worked for that legal entity, you could manage it and be paid, but that introduces nuances and other factors. 

But there could be other factors that would give more weight to one area over the other.