Are there any looming CapEx things coming where you could dodge a bullet by selling? 

I realized it would be much quicker if I could get access to a well established network.That all being said, joining a group is not the magic bullet.

- How long the unit sits vacant for repairs/cleaning, and finding a tenant- City/town/state the unit is inPlease respond with your thoughts, hopefully with the bullet points above as points of reference and stated as such in your reply (I know, I am asking for a lot from you all :) ) But, for example, a Class D property in Milwaukee, WI probably requires less turnover time, lower quality materials, not as precise of a paint job, etc, than perhaps a Class A property in San Francisco, which would require higher quality materials, higher labor costs, longer vacancy since more precise craftsmanship would be required, etc.

But some people think LLCs are bullet proof and go through all the hassle to try and hide behind them.

I can see that third bullet point affecting arbitragers for sure.

And I really appreciate these bullet point steps to take, thank you!

Does that sound like I am doing this right or should I just buy the property subject-to with maybe a one year balloon, then just bite the bullet and close on the property and once it's fixed up turn around and sell it again.

When it comes to foundations(or anything structural for that matter), plumbing and electrical, it's better to bite the bullet and do it right the first time.

Unfortunately- there is no silver bullet to your answer, and it really comes down to how much do you want it and how important is it for you? 

GFC was due to naive/lazy nurses/teachers/cops/fire-fighters and anyone else with a pension, not deploying any Due Diligence and just letting their greedy pension managers get billions in fees to invest in crap MBS and synthetic CDOs, all else by banking and ratings agencies and real estate investors just followed like trigger/hammer/powder/bullet down the pipe.