It's too small for professional multifamily management and the SFR managers have a different business model, without multifamily vendors and suppliers for turns and maintenance.  

One person will deal with tenets, renovations and maintenance.

Is the rent covering the taxes and insurance as well as the maintenance?

If it's a rather low end neighborhood, I wouldn't put that kind of money into it (although I probably would try to open the kitchen up a bit, that is always a big bonus).

I must put 15% down which takes the loan to low to get a 30 year mortgage.

Your criteria "working class, low crime" is what I was thinking as well.  

Consider long term costs.Central unit(s) belong to you, are maintained by you, and you need to provide power and pay that bill.Window units, even if you provide them, at least place the operation power usage on the tenant.If you clearly note in the rental agreement that "the window units are a gift to the tenant", then maintenance is off-load too.Frequently, the long term costs have a larger impact to your PnL than the cash outlay for the equipment itself.

I say “Yep”.When the bank came back with the increase in EMD from $500 to $2500, I asked my agent if that was because they wanted to increase the likelihood that I would not walk.She said that she believed that was the case.So, I believe at this point, ensuring I close is more important than the sales price.Plus I already stated that $17,500 was best and final.So, I countered back at $17,500 with $2500 EMD.It was accepted.My lender couldn’t believe it.After closing, the bank and I discussed financing options.Since it ended up being all my cash for the purchase, we decided on a construction to permanent loan.We got an appraisal value for its as-is condition and it’s ARV.When analyzing the property, I tried to be conservative and used a $120,000 ARV.As-is condition came back at $60,000, and ARV came back at $145,000.Comps were had to come by, as this is a small, rural town and there hadn’t been many homes sold recently.The bank would ultimately lend me up to 75% of the ARV, or $101,000 in 4 draws.The loan would be interest only during the renovation, and convert to a mortgage when completed.The loan is 10 year fixed at 6.25% with a 25 year amortization.Projected costs: Electrical work--$5,300Renovations--$64,000Zoning Hearing for approval for conversion--$1,500Insurance, permits, property taxes, and other holding costs--$2000Total Budget--$73,800Renovation took just under 3 months, with virtually no surprises.The electrician came in at budget, and the renovations had $4,000 in overages.With the purchase price, loan costs, and renovations, I am right at $101,000.I also believe that if I chose to get a new appraisal, it would come in much higher, as since the first one, a few houses in the area have sold and would support a higher value.So here’s a quick run-down on the numbers:All-in price:$101,000Value:$145,000Income:$850/month x 2=$1700Monthly Expenses: Maintenance 10%:$170Capex 10%:$170Vacancy 5%:85Electric:$20Trash:$55Insurance:$100Property Taxes:$185.33Mortgage:$666.27Total:$1451.60Monthly Cashflow--$248.40Money in the deal—ZERO DOLLARSYes, I know that I did not account for property management in my numbers.The reason is that there is industry moving into the area, and higher paying jobs as well.I believe that rents will increase and support property management down the road, if I choose.If that doesn’t happen, well then I’m stuck managing forever or selling it at some point, but it is a risk I am willing to take at this point.Is this deal a home run?

You then are attempt to acquire leads with "direct mail" and "driving for dollars".Direct Mail is a low return marketing channel, and the very best you can expect (even Kohl's, Vons, any local real estate broker) is a 1-3 percent return rate. 

What are implications for maintenance, taxes, insurance?