Basically, I fought tooth and nail to keep my house and business in addition to 50% of the time with my boys, but I had to pay heavily for what I came away with. 

I was leaning heavily towards "no" anyway, but y'all confirmed it for me.Some of these answers beg another question...how far in advance do y'all typically let tenants move in after they sign the lease?

If I were in your shoes, I'd take a step back and before I worried about how to analyze a property, I'd decide what my investment goals are, which will heavily inform the way you analyze a property.

My long term goal is to start buying in Florida also. i am heavily vested in the Pittsburgh market but like the idea of living in Florida 4-5 months out of the year.

Laurderdale areas therefore after much research, thought about starting our venture out there.At the same time I would much prefer to start in CA, and have an acquaintance that is heavily in the LA market. 

Weigh properties close to and more like yours most heavily.

We were heavily leveraged but not over leveraged (very important because we did not need to sell when the market was later depressed). 

And am heavily leaning in that direction.

The few that are, are not heavily discounted.

Buying with cash also allows investors to buy heavily distressed assets that would not otherwise qualify to residential or commercial financing.The con involved in paying cash is you greatly limit your buying power.