@James Yoo - @Steve Jones hit the nail on the head.

I'd also want to nail down what capital expenses are due or are coming up.

Ed nailed it!

Funny, the more of these we do, the more tools, experience, processes and contacts we nail down, making it better and easier to do it again. 

when it comes to buying rental houses in the quote un quote cash flow markets.. these markets are pretty much all interchangeable.. rent rates pretty consistent  with about a 1400 to 1500 cap.. higher than that and most will buy.I think for quick math for out of state folks so they don't get lured into properties that are ONLY appropriate for local tough as nails landlords.. you simply need to look at the median price of the area.. then buy within 10 to 20% of that.. and also only buy were the rent commanded is within 20 to 25% of the top rents in the area.. 

Hardwoods are usually nailed to a subfloor.  

@Tim Emery based on the purpose of the post, looks like @Travis Sperr hit the nail on the head.In this scenario, since 20% interest and 4 points "works", is the only option for a solid deal, and 10% down is less than $100k, you're making a better return on your money than if you were to put $200k in and $100k.

Hey Sam, You've hit the nail on the head with saving money on insurance.

@Brian Burke nailed it.

For those that ask how the kids can destroy a house, here are some ideas:They can kick when they are angry, holes in walls, doors, and cupboards.They can pull out drawers in the bath and kitchen and climb them, snapping the drawers.They can break bowl type sinks that sit on the counter.They can spill fingernail polish all over the carpet, tile and hardwood floors.They can pee all over everywhere if not potty trained and mom lets them run around half naked.