Are there any hidden requirements if I decide to use conventional loan?

With a rental.....and we mostly purchase failed rentals.....there is always going to be deferred maintenance and things you don't expect that lie hidden in walls or under floors.  

@Quinton Lightfoot jr, yep, it's because there are SO MANY people out there like you and me that there are so many "Gurus" trying to sell us their (so-called) hidden secrets for making money from nothing ie. dream merchants.

I'd tie it up under contract immediately, and do some proactive due diligence on it.The biggest "hidden" cost in most deals is the ramification of private water and sewer, which this deal does not suffer from.

my niche chose me, i find that hard working people who pay the bill and have good credit are like mindade so i invested in properties that were in those hidden pocket neighborhoods.

If the tenant attempts to fight the charges, I send them a link to the hidden video.

But they could uncover some major issue such as a hidden defect or such thing)In summary, make your decision on the numbers not your opinion.  

Another hidden gem for out of state investors.

PM's make money by ripping off the tenants (= pissing them) and with all the hidden charges from landlords -- as per my experience.You will soon learn how much uncertainty you are adding to your investment (and CF).

One hidden factor in the bank's bid is whether the property has PMI.