This also, usually, means the home is in a better neighborhood and is built after 1945 [as a rule of thumb only].I'm not saying ALL old homes are bad or ALL sub $700 tenants will destroy your property - just as a simple quick filter.Someone, like yourself, that knows the pockets of neighborhoods that bring in good tenants and only have older homes in them, can definitely point a landlord to the right areas as well.

Please let me know whether you are interested in wholesaling, rehabbing/flipping, rental properties or all of the above.  

At least you got a written bid, you'd be amazed at how many investors work off oral agreements...talk about asking for trouble.

Is it finding them, analyzing, estimating, project managing, funding, marketing or all the above?

From the toilet, shower, tub overflow, or all the above.

If there is any preexisting water damage, there could be possible mold depending on if there's insulation in the affected wall cavities or if a floor is on slab or plywood.

@Kathryn M. said 7.5' for Oakland, but not sure if that's just for habitable spaces, or all...

Or all gross?

The DFE rules start at the bottom of page 193 of the selling guide: https://www.fanniemae.com/content/guide/sel041514.pdf You can find answers to most of the other questions in this document... or talk to a loan broker, who may know many or all of the answers.

Even better, if you can find a small multi-family property (duplex, triplex or quad), you can still use the low down FHA option, rent the other units, and get most or all of your mortgage payments paid.If none of the above are options, then you can always try going the wholesale route.