In that instance it worked out pretty well for us. 

For instance were there multiple water claims, so that they'll know if there's a mold exposure.

For instance, the basement was leaking water from one wall and the seller had to put up gutters with downspouts leading far enough away from the house.

*Provide information about rental rates and other terms and conditions of the rental, as set out in a schedule provided by the owner, and*Accept deposits, fees for credit checks, and other administrative duties, security deposits, and rent*Provide preprinted rental applications and respond to applicants’ inquiries about the application*Show rental units to prospective tenantsAs you can see, a non-licensed, non-resident manager is limited to performing rather routine tasks that don’t call for initiative or decision making.For instance, this manager would not be qualified to negotiate a lease (4), deal with late rents or other violations of the rental agreement or lease (5), or appear in court on your behalf (6).(1) My property manager does NOT live on any of the owners properties.(2) My property manager is unlicensed.(3) My property manager supervises 10 different properties.(4) My property manager has negotiated leases for 12 years without a license.(5) My property manager has dealt with late rents and violations.(6) Unknown

You can also use this as a negotiation tool with the seller to show him the returns as the cap rate is a great tool but you need to forecast your levered IRR to see where the investment really turns out as the current cap rate does not show deferred maintenance /capex in most instances

HOA trumps city code, in this instance.

For instance, a friend of mine loans me $ at a certain rate and he can withdraw at any time.

For instance, for the stock market you might use Forbes, or the Wall Street Journal. 

I like to save up cash for awhile and then pay off an entire property for instance.

For instance, FHA loans only require 3.5% down but what if I save enough to put down 10% for instance?