One thing most of my clients are finding right now is that running the true numbers reveals that they're not really getting more (many times much less) than the typical DST or TIC offers. 

Inspection revealed many issues with plumbing, electrical as well as cosmetics.

Usually people who pay off their home are usually low debt, very risk averse investors.It is very important to uncover these questions because the answer will reveal what your investment psychology is. 

Base your calculations on that but be sure to buy it at a significant discount because he probably has delinquent renters that he is reluctant to reveal.

Noteworthy:  This quad will need a new roof in the next 18 months ( or sooner if the 4 point inspection for insurance reveals the age of the roof and insurance underwriter balks).  

Begin with carefully considered rental criteria, compliant with non-discrimination laws.Interview with questions that dove-tail with your rental criteria.If something comes up during the interview that reveals the person doesn't meet your minimum criteria to rent, let them know, so they don't waste any more of their time and yours.

Doing this may also reveal contact information of the actual owners.

The Professional license is $400 a month and you get access to 1000 owner information "reveals".

They want to sell - but they won't reveal.

The reveal on top will tell you if one side or the other has settled.- Diagonal cracks coming off door frames or window frames at approx 45 deg angle.- Separation around windows from the exterior. - Opening of brick frieze where brick veneer meets soffit.- Levelness of counters, trim, or finishes on inside and out.