If you mean "how often do LPs try to sell their positions," I can count on one hand all the ones I can remember, and that's over more than two decades, $400 million equity, and well over 2,000 investors.  

You can't count on the value going up. 

The rent is not realistic with the bed/bath count and the condition;it needs a large rehab.  

I HIGHLY RECOMMEND HAVING A GC WALK the property with you...if the thought is even crossing your mind then the answer is yes.Up here in Chicago we charge a fee of $197 to walk properties a provide a page report with ball park estimation.With contractors especially you get what you pay for, so find SOMEONE WHO KNOWS THEIR TIME IS WORTH SOMETHING! 

(and yes, DSCR are personally guaranteed) The number of financed properties calculation includes:the number of one- to four-unit residential properties where the borrower is personally obligated on the mortgage(s), even if the monthly housing expense is excluded from the borrower’s DTI in accordance with B3-6-05, Monthly Debt Obligationsthe total number of properties financed (not the number of mortgages on the property nor the number of mortgages sold to Fannie Mae), with multiple unit properties (such as a two-unit) counting as one property;the borrower’s principal residence if it is financed; andthe cumulative total for all borrowers (though jointly financed properties are only counted once).

Local banks don’t or won’t cross multiple state lines.

This house was already priced about $30k over comps, if based solely on br/ba count and square footage, but it was at the crest of a hill, had mountain views through big bays of windows and views of the Denver skyline.

The big guys like Perma Seal and US Waterproofing always seem to be more expensive and have longer lead time but you can count on their quality until you get a more independent guy that has flexibility and is typically cheaper.   

Last night I had a dream about 5% rate and 100% financing: (sorry to be snarky, but) does that count?

A good PM can turn a mediocre investment into a solid return; a bad PM can ruin a good investment.A good PM can also help you narrow in on the best neighborhoods, cross-check what your REALTOR tells you, and line you up with solid contractors.I'm biased, but I don't think there's a more important person to have on your team.