Im typically ranked in the top 200 agents in my entire state with most of my business coming from BP.

Its a whole different caliber of contractor you deal with in new construction (typically).

There's no guarantee that the liability coverage will pay out unless the tenant is negligent, at fault, etc.Mold is typically not covered by insurance at all. 

Passport 2. 2 Months Bank Statements showing downpayment + closing costs and reserves (typically 12 months) 3.

Just a case in point, the tiny apartment I live in (800 square feet) the mortgage payment is about 4000 per month, and the typical rent for such a place would probably be somewhere between 1500 to 2000 per month.

@Adam OrtizRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Typically, if they can make it work as an STR they go that route because it almost always generates the most revenue.

One of the biggest challenges of investing in Rustbelt cities is knowing where to invest and properly understanding the cooresponding pros & cons.Here's copy & paste advice we share to help to address this challenge:-------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

But I want to understand:How quickly do rental units typically get leased?

The typical days on market for these apartment are 20-25 days.