There may be other costs like heat if they aren't separate & lawn care/plowing which could eat into your cf. 

Again, the two-story problem means that if you have any electrical, plumbing, etc work, the difficulty will be greatly enhanced compared to a single-story home.Another problem you will see is that taxes will eat up a fair portion of your gross rent because you are generally not going to be pulling in much income from the lower-income neighborhoods.

The reason lead-based paint is dangerous is if children eat paint chips.

There's plenty of food for us all to eat, but you do have to work hard/smart to get it.If you have any questions you can always reach me on my cell phone.

If the sanitary conditions in your unit are such that it attracts pests of any kind, and it becomes necessary for us to undergo remediation in the building, you will be held financially responsible for reasonable costs thereof, paid as additional rent.I think you resolve this with the tenant by attempting to negotiate them paying, but if they push back you may just have to eat the cost as tuition since your lease is silent on the issue.

Also what David H said, the fact FEMA will raise prices continuously and eating into cash flow. 

They could start heavily taxing these type properties to or just outlaw them as they have in many locations.I wouldn't advise putting all your eggs in one basket.

I may have to eat the utilities and no rent until it warms up in about April or May. 

So, if you have a leveraged property with a tenant not paying rent, you are essentially going to be eating the PIMI.

There are def bad areas in these towns,  and also areas that require flood insurance which will eat up your cash flow.