By finding a mentor, you'll be able to learn how to find deals and spot them.

Both answers above are spot on.

There were water spots above the kitchen cabinets, as well as some standing water in the basement, while disclosures indicated there had been no water issues on the property.

So they go and list it on MLS for 260 it never sells of course because its no deal.it swings back to me and sure enough.. once we dug into it a little more these guys did not realize she owed 195kk against it and it was in foreclosure.. about to be lost.. so they had it tied up  had fouled up her title by recording that document and they were going to lose out. so long story short I told them I would give them 6k and the seller 5k. and stroke a  check on the spot for 211k.. and it was done.they were lucky to get that. but they would have had no compunction ripping 100 to 150k of equity from this older lady in distress.I leveled the house built a new construction that sold for just under 750k and we made right at 200k net profit on the deal.. but I would have passed if I thought these guys were ripping this ladies equity I don't care how much I would have made I can make that on another deal and not take advantage..now granted when folks CLOSE and then resell well all bets are off and its harder to go back and see what someone paid for things.. 

Anish Tolia is spot on! 

It also has a spot for a third meter, though there is not one currently present. 

Recently we had storm and blew off the roof shingles off, we have a roofer came out and checked he found couple spots hail damages.

You  may spot an appreciating area before others. you may see a  way to add value that others don't.

-I could simply charge a flat fee for each of the services I provide (10% management fee, couple hundred bucks for the finding of the place and a couple hundred more for closing the deal, etc)Has anyone out there been in this kind of spot?

Otherwise, you park where you can find a valid spot.