So far, I am leaning toward the idea of not installing new HVAC system until existing tenants vacate the property, and I would probably have to eat up the cost of repairing the existing heating system throughout this winter.

You're chasing cash flow without realizing that expenses and delinquencies will eat you up.

I agree, there are some out there that want everything free or pay for you to eat a $2 meal every meal, it sometimes gives me the bad impression.

So while I agree that, yes, those management costs can eat heavily into any cash flow, I reckon the biggest chunk of cost is the fact that you'd likely be paying more for it in the first place than the rest of the market was offering!"

Furthermore, considering this is a condo would suggest that there are HOA fees which should eat into the rent more.

I notice there are quite a few people in L.A renting out pretty big fleets of vehicles so I'm guessing they must be making good money or they wouldn't scale up like that .I looked at the LAX turo lot prices but it seems like the fees would eat up a lot of the profit.There was a reddit thread I saw where this guy said he was a former Uber driver and now he's renting out a fleet of sports cars ( like BMW M4 , Porsche 911 etc) on Turo .

That would eat into your profits far more than a hazard insurance policy will.Plus....it's tax deductible!! 

It would be great to see Networth eat their own dog food and show us how it's done.  

Over the years that investors have been eating up cash flow there, it's mostly been SFRs I-20 (both directions) and south.

It also allows me to increase my net worth by virtue of having benefits like 401K and not to mention paid vacation and health insurance.I will admit, that I don't have a wife or kids, or even a gf to eat up my time, and the only vice I have is my love for baseball.