I realize that once someone creates a letter of intent they can start on the due diligence phase to learn the financials, physical, and legal but what else can I learn about a property before making an offer? 

So not hard for me to justify being a REP.Google xxx excel template to find what your looking for.

@Albert Bui @Matthew Kwan Thank you for your excellent insights and strategy suggestions, Carlos!

I'm looking at purchasing a rental in North Carolina, I have Excellent credit (800+) and money for the down payment..

The benchmark is what people do for pro formas and try to re-write history in the future, it never works that way.I've been deeper than anybody here in physical asset investing, albeit not REI, and it's just not the case that history is relevant.

It's how it goes in physical asset investing.

@Gregory Fazio Some young investors in my area have excelled in seller financing by doing this:They reached out to top investors and agents, clearly stating, "We’ll offer on any property with owner financing."

Our city is experiencing rapid growth and presenting excellent opportunities for investors.I would be delighted to connect and share insights about our current market and turnkey properties.

Excellent post @Robert Mitchell  The City of Atlanta permits department is a full on ****-show.  

Never the less, I agree that you need to physically be there and check on your investments.