Mike states not to fall in love with an investment property.  

My lease states that certain clauses go away if I'm no longer managing the property.

you can always call or email the tenant in regards to this matter. i personally smoke as well and just would want my tenants happy and not feeling accused as its a big problem with a lot of tenant v landlord situations around the country. you can always say you got a report of the odor of weed and was just verifying the smell with both tenants on the property. you can restate your conditions with smoking. you can always ask if they are legally able to do so as well (meaning medical card). depending on how you want to handle it, if you want to make it a legal warning to the tenant as well, you should write a written letter sent by mail stating you got a report of weed and this is a written warning in case this a problem down the road, you have evidence to show the court if it gets to that matter that this is not your first occurrence. best of luck!

Get familiar with the laws in the state you will conduct business in.

Your first invesment may need to be trusted out of state.

One of the REPS cases (I forget which off hand) they were basically like...petitioner states they spent 8 hours on X date supervising painters at the property and we find it highly unlikely that anyone would sit and watch paint dry for 8 hours. 

Rent growth is a function of supply, demand, and interest rates:- I'd ground any forecast by stating I expect national rents to rise on a pace more or less in line with inflation over any long time period. 2-3% per year.

Many will have a disclaimer stating that the information cannot be relied upon and buyers must confirm all information via their own due diligence. 2.

I say it is the first deal because it was brought to me by the owner before placing any other deals under contract (which I have done in multiple states) legally, and ethically.

I did one that was a rehab in NY State.