>> Low fixed fees of $625. 

I have also found that since I am in such a competitive market (central Florida) that the rate is low enough on the 4-bedroom that I often get couples who could stay in something much smaller but find our house worth the slightly higher cost.

Whatever direction you go, don't buy in cheap, low end neighborhoods just because they are affordable. 

Brian, I don't think investors WANT to see 50 or 100 houses before they make an offer but I would make a couple of points:1) As I tell my life partner "you have to kiss a lot of toads" before you find the right one but this is related to how you find the home...meaning if it is on the MLS - typically harder to find a deal although not impossible, if you drive for dollars you might have to look a lot of owners up but if you get to the point to see one odds start to flow in your favor2) If what you refer to is being a newbie and trying to understand what a good deal is or is not and if you have the time, touring that many properties to get an idea of value is fine.I have a w2 job and family so never had the time to specifically look at 100 properties with no intention to buy --  this is in no way a requirement.  

The problem with low end properties is the relative cost of repairs.

There are low end areas that offer easier price points, and high end, single family and large mult-family, commercial, storage, universities ... 

Your property taxes and repair expenses seem low and unless this is in the Seattle metro a 5% cap rate isn't the greatest on a triplex. 

In some properties I put electric baseboards from Lowes and I was perfectly content with the outcome.

It's not hard- install aerators in sinks which don't have them(and install Water Sense faucets when replacing faucets, they'll use about 15% less water than regular faucets.)Then use low-flow shower heads(go for 1.75 gpm, anything lower will cause unhappy residents.)

I found a company that has construction, management and brokerage under 1 roof and operates in Indy, Charlotte and Kansas City..These markets have population >1 Million with consistent growth; Good jobs and low unemployment, inexpensive houses in working class neighborhoods that create returns of at least the 1% rule and are cities with excellent credit ratings allowing them to invest back into the city.My first purchases 5 years ago included visiting the company and interviewing the employees for the systems they use, inspecting the houses and then reviewing the monthly reports once the purchases were made.