That would probably be the best way to eliminate deals where the math does not work for you.

He goes into a ton of strategies to limit and possibily eliminate your tax burden.

Eliminating that expense will increase your value by ~$200k, assuming the 8% Cap Rate is correct.Anyway to bill back water/sewer through RUBS?

High criteria should eliminate anyone that you would turn away anyway.  

It's those maniacs that buy homes cash via quit claim deed off of craigslist that really get screwed.Make sure your property manager is a licensed real estate brokerage.Understand you can not eliminate all risk, only mitigate it.

Eliminate all emotions and don’t force a deal to work if the numbers don't support it.

And since you actually own a deeded % of the real estate itself, if it's debt free that's one more layer of risk eliminated. 

I'm trying to work out the numbers but it seems like without a substantial down payment, cash flow is impossible thus eliminating any type of rental/brrrr strategy.

If you decide to keep the property you can refinance into a conventional loan and hopefully you have enough equity to eliminate the PMI/MIP.

Not that I think there’s anything wrong with the lease and then rent business; but a certain percentage of these are problems so I avoid those problems by eliminating this category.As a side note I am able to get prices significantly under market because of my maturity (age), reviews, and general professionalism.