Make sure you know the rules in the state where the property is located.

Since you're not rushing for a quick flip, you can focus on quality construction, tenant-friendly designs, and strong rental markets that yield solid cash flow and appreciation over time.A few things to consider: Location is key.

They do not write policies in Louisiana where all of my properties are located. 

Nothing you mention is "ordinary" and you should charge for all of it. dodged a bullet there thats a very good price take it from the security deposit and call yourself lucky. 

I'm located two hours west of Indy.

For flips, calculate the after-repair value (ARV) and subtract purchase, rehab, holding, and selling costs.Pay attention to location, rental demand, and the property’s condition.

With the future being so uncertain I realized there was a need to do more than just rely on my job for financial security. 

Secure the debt by real estate, now we're talking a great partnership deal.

I will not know that until I climb under the house and into the attic etc... for inspectionThe area is close to things and is not in a indicated crime location and has a very nice open lot area on the corner with it but again assuming the tenants stay and lease I am looking at that as a smaller issue..Thanks for bringing up the concerns but I have tried to do my due diligence but do not really know is the analyzing aspect has missed something major.

Is it fairly priced for the size, location, quality, and other factors?