I am very hands off and leave the majority of the work to my property managers.

I guess it doesn't take long for a few major repair bills to eat that up.

I was able to finance out the majority of my money.

We were apart of one other deal a few years back that did very well also, but we were not a major share of the deal.

Account Closed get a great local inspector and make sure he/she checks out all the major systems as opposed to wasting time looking at paint chips and door hardware. 

I work full-time on the ambulance up here and part-time at the city fire department.

That said, you'll want to be very mindful of location: Many parts of Austell are in or near active floodplains, as evidenced by the catastrophic Flood of 2009 (https://www.weather.gov/ffc/atlanta_floods_anniv).The City of Austell Public Works Department provides comprehensive Floodplain Management services, including education, mapping, and many other resources, at https://www.apwsm.org.

(One of many good reasons NOT to buy condos as rentals) The rent covered the majority of expenses, but at the end of the month, I still found myself shoveling $1700/mo into it.

We've been making efforts to reduce our major monthly expenses (down sizing house, etc). 

(my target is at least $500 net after all proper reserves per home)Do you see any major strategic flaw in this plan?