Only downside is that you need to bring more cash at closing.

The down side of course if the higher taxes and higher cost to entry. 

thank you for the welcome.Timothy-- Bangor does seem to have some deals but the downside is that usually the landlord pays for heating.

A downside is that the housing stock is often 50-100 years old and there are all kinds of “unexpected expenses” like repiping the sewer or redoing electrical wiring.

I know the downside of an apartment are the HOA fees will cut into my cash flow, but if I can get a minimum of 100$/ month after all costs I would be satisfied since the mortgage would be getting paid.Does anyone have any thoughts on this approach?

As a sidenote If a note fund were to obtain leverage one of the downsides would be any IRA investors would be subject to UBIT.

The downside for me is that it's very time consuming, and I'm not great at managing contractors. 

Just like the Subto/Due on Sale Clause Insurance company that was mentioned in the podcast which could supposedly protect students from the downside risks of using subto to purchase, and that it sounded like he was partnered with, but turned out to be not entirely true...   

Downside risk is minimal.2. 

That's the downside/cost of investing in a tenant friendly state.