Paying down the note quickly is a power move too—love that disciplined mindset!

I would apply the cash flow to pay down the debt and hope to have significant passive income (or equity to put into something else) in 10 years.

, status of major building components (roof, HVAC, structural, electrical, plumbing), accounts receivable aging (are all tenants paying or is the $20,500 schedule rent?)

Second pro is that you get to lower your living expenses or live "rent free" by having your tenants pay for your mortgage payment.

Are there specific market indicators or property traits I should be paying attention to?

The guy on Youtube that boasts about buying properties with no money out of his pocket and using other people's money from his "community" to pay for closing and carrying costs, said in a video in June that he had 10 Due on Sale called in AZ alone from Jan 2024 to May 2024.

In the “old” days, people would have the seller pay the lender so as to not “alert” the lender that a property sale had taken place, so that the lender def wouldn’t trigger the so called “due on sale” that’s a part of almost every mortgage or deed of trust document.  

If the new owner pays on the loan its not "equity skimming" from what I understand of it.

Their pay-as-you-go model allows flexibility, so you only pay for what you need.

Most lenders require proof of someone else paying the note for around 9-12 months so that the debt isn't counted in their DTI calculation.