I find that out of state investors from desert areas like Nevada, Cali, Texas, etc have no clue how bad the basement foundation walls in an old house like this can be.The good news is that a bad basement can be fixed but the repair cost can vary widely from cheap to multiple tens of thousands of dollars so having the right inspector on your team is critical!

I look forward to learning from all the helpful tips and criticism you will all have for me.

Positive cash flow from day 1 you own and is critical too.Good luck to you!

This doesn't mean you can be grossly negligent, you still need to run a proper business and do your part of the bargain but, for many people, an LLC isn't necessary until you reach a critical mass.

@Nicholas Hill, the location of your qualified intermediary isn't as critical as their experience and responsiveness. 

Mail a letter, sure, but the urgency of initiating multiple points of contact before your competition beats you to it is critical here.

This is the first analysis that we completed for a property we are actually interested in and I would like all the constructive opinions and criticism you can provide.Thank you!

Fan Bi meeting the appraiser is critical.

Constructive, brutally honest criticism encouraged.2.

I am very open to criticism on my approach and preconceived ideas of investing.