300k - 5% down at 7% yields about 2800 mortgage, PMI, insfor easy number after reserves for cap-ex, repairs, vacancy, water/sewage - $3800I do not plan to live in the property.

What's behind that door, in the garage, how's the mechanicals look, is their water stains anywhere on the ceiling, etc. 

Put in the lease that they pay water / sewer.    

(Silver Spring and Rockville for instance)

We now have a property in Colorado Springs that will be rented out when we get orders again.

My wife (26) and I (27) are wrapping up renovations on our first investment with plans to sell come spring or refinance to hold it as a rental.

It's really easy to create stressful and costly problems for yourself in this game, and as an investor, your time is much better spent learning and working on your next deal rather than trying to find a handyman on craigslist who will pump water out of your basement in another state at 3am. 

Needs some new windows in the near future but overall the previous owner had set the home up pretty well with a nice big newer bathroom, solid countertops, hot water heater and recent siding.

Maybe you can do a joint venture first in NC to test the waters and build your team there.

If you remove the water source and clean the mold, it will not return. https://www.epa.gov/mold/brief-guide-mold-moisture-and-your-...2.