@Nancy Roth   properties in AU cost generally 500k and up and are negative geared most of the time.Negative gear is the AU term for negative cash flow.There was a gentlemen on this site and the one I frequented in AU  that sold turn key in Japan...

Getting sample management contracts, lease contracts, maintenance requests, maintenance invoices, tenant applications, and other communiques that companies use from a variety of local PMCs then going through them will help you figure out what matters to you.  

HVAC or other exterior equip typically may not last as long, hurricane damage, more frequent deck repairs or annual sealing, etc.), so just higher maintenance costs to account for in the analysis to play it safe etc.

This frequently causes bad advice even though well intentioned.Asset protection is critical.  

I'm going to get a bit technical and local here.The absolute worst elderly property of the 1900-built variety is an old rambling place of 4-5 bedrooms that was originally built as a box-like 3-bedroom single-family according to a pattern that was originally called a Foursquare, and then at some point was converted into a duplex or triplex, sometimes with an addition, sometimes without, almost always with an attic in the original Foursquare part that's been turned into two additional bedrooms, sometimes with a small third-story half-bath shoehorned in, sometimes without.This happens to a lot of older houses in the Pittsburgh area.

This will be higher quality hotel sheets meant for turnovers, meant to be laundered frequently & dry quick.The sheets should come in from $10-13 / sheet, $2-$3 / towels & pillowcases.

I don't "specialize" in real estate tax (I am on the consulting/audit side) and the tax law and tax treatment changes frequently so unless this is your niche you should pay the expert. 

Frequently, if a tenant wants to move midway through a year lease, you as the landlord will be compelled by the court with a "duty to mitigate" so very seldom are the tenants locked in. 

I'm in the NW and we deal with water and mold issues so frequently that I give buyers a heads up before every inspection.

I have spoke to a variety of commercial lenders local to my area in Mass. and have found that most of them typically have a footprint (even by county) where they are comfortable and know the markets well.