This can be a sensitive topic, as many cohosts opt to not be licensed, and as some agents and PM's think the law requires a license for cohosting.

If there's a hole, it may be a red flag.b) sensitivity analysis: I examine all the assumptions, and make sure I can live with the worst case scenarios.c) "Stall and see": if they are getting money over multiple years, and there is no penalty for investing later, I would usually wait so I get some real performance data, versus having to look at theoretical pro forma information.d) Recession stress test: I will not invest in anything, until I subject it to recession level stress and see if I can live with the result.

All being said, most real estate investors advocate that the earlier you can take action and acquire your first deal, the quicker you'll learn.

It seems like you've taken a lot of the steps to educate yourself and you're ready to take action.

The ability to take action can be both brave and foolish. 

I have been reading books and listening to podcasts for almost a year now and I know I need to take action. 

And this brings to mind @Collin Hays post recently on firing dynamic pricing:https://www.biggerpockets.com/forums/530/topics/1227948-i-fi...Timely and thoughtful, I'm still reflecting on it as there are actionable implications there.VRBO might not understand now.

The utility company missed an appointment and no communication from them or action to even reschedule.

In Florida where I live that amount is the first $50,000 for a married couple are exempt.So to put all that into action, let's say the previous owner paid $100,000 for the property 20 years ago and lived in the property.  

@Timothy Finney Glad you are ready to take action.