Thank you for taking time to address my question, greatly appreciate it.

Plus, when done correctly, you as the KP can capture the ALL the Fed investment Tax Credits (ITC) plus the  State, MARCS, and Cost Seg Depreciation to massively offset your High W2 / 1099 Income - I wrote a book specifically for people like you and your wife to address your concerns. 

Detroit has suffered due to the archaic way the US Census Bureau addresses teardowns.

The pros: - not having to do a major renovation from out of state- easier to get a conventional loan since the house is livable vs. a distressed property (would need to pay cash, do a hard money loan, some other type of financing)- can get a tenant in quicklyThe cons: - you don't know how good the renovation is, could be cosmetic without addressing underlying safety issues (plumbing, electrical, foundation, etc). - a home can pass an inspection but once someone is living in it and putting daily stress on the house (turning faucets on, light switches, turning on heat/AC etc), things can start to malfunction.

To address this, I have agreed to defer the interest payments on our next project until the property is sold.

In addition to responsibility for general supervision, compliance, and maintenance, the designated responsible party must be available twenty-four (24) hours a day, seven (7) days a week in order to address issues that may arise from the operation of the vacation rental.

@Zachary Gwin  Send me a message with your email address if you still need one.

You mean like giving them your email address or phone number and having them email or text them to you?

For instance, today, walking the project I noticed that we didn't address the washer values. 

Third, do you think its wise for the investor to know the address of the property before we close on the deal?