@Zoe MarrMaybe we should all avoid piling on with the criticism here.Landlording can get to be a savage business at times.

Typically that can be done by phone, but occasionally it can be handy to belong to an investor club where someone local can drop by to squeeze the information out of a difficult source.The critical data for equity investments is primarily vacancy increases and rental income drops.

And by all means check out the PM, because that element is going to be critical to your long term success on the investment. 

there are many things that determine the value of a lot: location, topography/no environmentally critical areas, access, presence of utilities, zoning. 

That becomes critical in any situation where you want to use 1031 to diversify.   

The tax returns are critical (I forgot those...

You need actual hard fast numbers for:a - Existing debt  ("...could be anywhere between $100k-$120k..." is useless info)b - Rehab needed  ("...gonna need at least another 15-20k..." is also useless)c - ARV  ("The ARV is about $166k.." again, useless) d - Rent (unknown, but critical to analyze for a rental)e - taxes and insurance as a rental (unknown, but critical to analyze for a rental)f - cash you have to work withMy recommendation would be to get the above information as exact as you can...or, pass on the house. 

Probably a broker, but I don't think that's a critical component.

But, you've got to have enough to offer for someone or a company to where they know they would be walking away from a good win win if they don't meet their end of things.I see that as being pretty critical. 

@David Floyd tough love, not criticism here....Only a fool would own property in their personal name and think insurance is going to cover their risk exposure.