My current house is all new. Entire exterior replaced( Siding and roof) less than 5 years, new garage door/track/springs, all appliances 2 years or newer, air conditioner/furnace, water heater 4 years or newer. Windows were new when we bought it. Floors and carpeting replaced in every room. We have no more fixing up to do on our house.
Being in New Albany Schools, I could rent my house easy, and do nothing but collect rent for many years. I'd just have the air/furnace serviced once a year. And our payment on the house is less that 1k a month. This would not be a bad Idea for me.
With our income, We could put 140k down on a 250k house and have an asset to boot. Even if we didn't have a tenant, we could swing the less than 2k a month payment on both houses combined. With a tenant, it would be sweet.