It is really, really hard to be an "expert" in anything more than just a couple of cities or areas because there's just not enough hours in a day to really - I mean really - learn your market.

Do you need all this for a couple of rentals?

If you're getting back into the lending game for long-term hold investors, a realistic “ideal” loan might look like this:Rates: Somewhere around 6-8% interest, depending on the risk profile of the borrower and the property.LTV: 70-80% LTV is solid, especially if you're aiming for lower risk.Term: 5-10 years works for LTR investors who want stability.Fees: Reasonable origination fee (1-2%) is expected, but avoid nickel-and-diming borrowers with hidden fees.Prepayment: A soft prepayment penalty could be fair if paid off in the first couple of years, but after that, no penalties.Speed: Being able to close quickly (within a couple of weeks) would be a huge plus.In short, give investors a competitive rate, decent terms, and flexibility on prepayment, and you’re golden.

@Jonathan Umana    First a couple questions. 

Let me know your thoughts...I think it could be a good time to do a fix and flip (start the process in the next couple of months and sell in March/April).

You could maybe have a couple of related or satellite nitches....but you're not going to be able to be successful in ever CRE asset class. 

It was the owner of the house and a couple of neighborhood teens who handled the demo and clean up.

I went to high school in Bloomington before i moved to Utah but i havent been back there since. my uncle lives there and he has a couple of multi-family rentals so i wanted to get a little more info on how the area is doing. 

Couple of things I looked out for:- Area, make sure it's somewhere that will have stable demand- I stayed away from homes that had a lot of renovations that were needed- During the tour see if you can spot basic issues like if wiring is old or how new is the HVAC system, etc. - If you decide to keep the tenants that are already there see how well they keep the place

I have a place in Reston listed in Zillow & furnished finder for couple of weeks.