Purchasing another rental property for 1.2m+ is not something we are ready to do at this point, one bad rental year and things spiral out of control real quickly. 

Say you have to leave $5-10K in... you now control a cashflowing asset at a fraction of the cost.And you don't have to buy all cash either.  

If their bad credit is due to life events mostly beyond their control, they will sacrifice and find a way to pay the additional money upfront to change their circumstances. 

I use Price Labs so I’m not manually controlling pricing.

For example if you are going to purchased something like (some) pest control companies or an alarm monitoring company where the income is contractual and reoccurring you will generally pay a higher multiple, say 5 times NOI. 

As soon as there’s a computer controlling it, it’s going to be expensive to fix.

If you started 5 months ago... actually this is a good point.ANYONE and everyone that have been following me for a while listen to this.If you had started 5 months ago with what I have been preaching you would very likely be on page one of Google right now (IF you did it correctly).So you can either listen to the nay sayers or you can do as I say and take control of SEO and dominate your friggin market!

Not only would you have more control, but one vacancy isn't 100% of your income gone.6.

I'm not a fan of condos in general because of (in non-vacation type areas) appreciation is lower and you lose a lot of control to an HOA.

Personally I prefer to supply it because then I control how it gets installed, if they come with their own, they will need to store them mine stay in place.Regarding @Jason Hirko meat situation, landlord is not responsible for the tenants personal property ie. meat, that's what renters insurance is for.