And the more bedrooms you have, generally the more people including children, means the more water & sewer usage (of course).I can't tell from your profile if you're in RI or not, but if you're not, or you are and intend to use a property management company, you can also ask any potential companies to review your projected expense #s and let you know whether they seem realistic.

It depends on how much you make from your job(s) and on some other factors.4.

You can look into a local property manager or just manage it yourself - you'll need a reliable cleaner/s and handyman, but with online tools like Takl, TaskRabbit, and TurnoverBNB you'll have good places to get started looking for them.  

I'd like to invest in an investment property in coastal NC. 

I agree with Thomas S. and add that when you compare dollar for dollar and all construction costs it would be more cost effective purchasing a factory built trailer or motor home.

Both of these houses were built in the 1950's and I wonder if maybe that is part of the issue.Thanks in advance for any advice!

If the residence is in coastal Florida, a ton.

You need to be able to create custom expense pools, auto retail calculations, 1099's and 96's, track expenses for gross and triple net leases.

Of course the coastal state will continue to fight it because socialism isn't really socialism when it benefits the rich.

@Brandon LyI was going to say Ding Ding Ding best answer goes to @Chris Seveney but then I read answers by @Greg M. and @Brad Sand.