This is the most important piece of the puzzle and you can build your team from there.

I want to contact the listing agent to get a better understanding of the listing because not all the information is always there, so when I contact them, what are key pieces of information that I should ask about to make sure I will have a good understanding of the area. 

Sure you can post ads online and make signs but it’s active calling that’s most effective.I’d make a marketing piece about your space then start calling.

You have to make the bet that you might do well, break even, or have a big loss.If a buyer has limited funds and net worth they do not need to get sucked in by the potential of high cash flow and landing nice tenants that pay on time and take care of the place with low income type properties.Think of this.Someone buys a piece of junk and hopes the building doesn't fall apart and the tenant pays on time so they can cash flow 200 to 300 a month based on current market rents for that product type.So 2,400 to 3,600 a year if everything goes perfectly with no surprises.

Think about that in two years when you replace the particle wood piece of crap you put in there - lol.I would also suggest quality-built kitchen cabinets for rentals, for the same reason (not sure what yours are).As indestructible as possible is usually the best investment for long-hold rentals, IMO.I chuckled at the 2 am bandit sign comment, are they illegal in your area?

Real estate will provide me the final missing piece of cash flow in excess of my lifestyle’s expenses.

4) Potential related mortgage - One property is a piece of land. 

Friends, family, or fellow investors that may want a piece of the deal as a lender or equity share?

Is that for the list or does that include the mailing pieces and postage? 

I really do like the idea of holding onto this piece of property as the neighborhood really hasn’t had a true resurgence yet.Any tips on securing a second real estate investment ?