While there may be no extra cost here for properties in good condition, it’s worth having the property inspected by a professional building inspector to ensure that there are no hidden issues or problemsFinancing Details: You’ll want to talk to your lender or mortgage broker to get an idea (or better yet a letter of approval) about the cost of the loan and the necessary downpaymentIncome: Details about income should come directly from the seller, but as mentioned above, don’t rely on pro-forma data for final analysis.

I don't think the challenging areas ever perform the way they are penciled on paper.Now the occasional gem comes along, but like I said above - they only come along rarely and that is because of 10 years of great relationships.As for your market, you know it best.  

Also do you see any glaring hidden fees that I have over looked? 

JONATHAN WHEELER you need to find out much of the hidden cost if you can.

Ahhhhhh, that makes so much sense now.So much for flipping one of mine for a hidden mini fortune.

I like to focus my attention on what I call the "hidden MLS deals".

I found this site while doing some due diligence on a real estate brokerage firm and discovered this hidden (to me anyway) gem of real estate investing information.I live near the beach in Orange County currently renting a place at 0.3% of its Market Value (I like the 2% metric people use here).

Dana Chun they owe you $7,200.I would also read the leases carefully as you don't know what other undesirable terms are hidden in it.It's not an uncommon trick in multifamily properties for the seller to cut sweet deals to some tenants just before the sale.

Secured credit cards, secured installment loans, etc.See this book for ideas.http://www.amazon.com/Hidden-Credit-Repair-Secrets-Edition/dp/145632134XHelp someone rebuild their credit and get a long term tenant without the risk of an option or land contract.

One absolute gem of information the speaker did give though, was to go online and search for "free real estate books", and somewhere, somehow, I found Bigger Pockets.