If you can rent it for 1% of the overall value of the house per month and clear at least $200 in cash flow per month after expenses then I'd say it's a solid investment. 

Actually had a solid choice with a really nice ROI lined up this week, but it went in 6 days with multiple offers and we didn’t even get a chance to make an offer before they closed it down.

I’m hoping with our prime location the right buyer will see the value and be able to understand and make a solid offer and close the deal!

This is a bit more time consuming but it allows you to find out about the area as well and make solid recommendations to your guests. 

1) Calls back within a day or 2 (Yeah we all work, don't need to call back in 10 minutes)2) Can meet within about 4 days to walk through a quote (30 mins max I don't want to be there all day unless it is an outrageous amount of work)3) Provides the quote back within 2-3 days with a solid price (not one that is going to keep jumping up, I want to know up front) If it is 15K fine I can budget that.

Then teaching my kids and nephews about the business so they have a solid foundation to begin their careers/to learn principles of finance and RE.

It's a solid strategy.

Typically 10-12%, unless you have a pretty big portfolio.What about water/sewer, lawn care, snow removal, and admin/professional costs.I bet you end up between $800-900/month cash flow, but that's still really solid!

The building is solid construction built in 1961, 11,000 sf, well-maintained exterior so not much deferred maintenance, if any at all.

Find a solid agent and get familiar with the areas you want to invest.