That will ease the pain if you do have turnovers.  

Also get DIY network (sorry for plug) & especially watch holmes on homes (&his pain offs).

If they are a pain in the neck and never pay on time, I would try to do cash for keys, offering 1/2 rent and telling them to move out in 1 week or 2 because my niece is moving in in two weeks.

Unless you will begin seeking other funding such as hard money lenders which can be a bit of a pain.

The relief from financial rat race, the notion of being able to do things for self and/or others without the immediate repercussion of falling back into the debt hole struggling to climb out that a few extra bucks can provide are the things that I think about.

If you buy it in TX on sub2, pay the back payments, you are hard pressed to resell on a wrap to profit.I try to get the seller to make up the back payments and I supply the debt relief by paying a payment every month to the seller's mortgage co.And I would need a positive cash flow of at least 300 a month, rent or owner finance payment to me vs PITI.Sub2s are complicated and you need a plan to refinance if the loan is called. 

I think running your numbers and setting your goals is your best bet.I would stay away from condos, the condo boards can be a pain the neck.

How do you deal with people that are never happy with what they have and are pain in the A$$ to deal with?  

It can be a pain to maintain the property's appearance to historic standards, and it is almost always way more expensive.

Borrowers can quickly expect and even demand forgiveness or relief while not really in hardship or being in position hidden from the Mortgagee to recover from said hardship.