Now it's hard to get quality answers when needed, and at times, timely responses. 

Don't forget to compare prices and read reviews to ensure you're getting the best deal and quality.

For someone that's not as conservative, or a different view on the cycle, they might have a different opinion than me on all of this.2) Sponsor quality check: (takes about 45 minutes per deal)I believe that a great sponsor can take an average looking deal and make it great, and that in mediocre sponsor can take a fantastic looking deal and make it bad (especially if there is a severe recession).

so if you buy a high quality property in a great neighborhood and put 15-25% down... it's probably not going to cash flow for several years.

. :)  Well put, when you provide a quality product you earn respect and credibility.

Low quality tenants, and high vacancy usually follow…..

My goal is to make a well-informed decision that not only helps with my mortgage but also provides quality housing options for locals or students in the area.Thanks in advance for your help!

Being a local company, providing quality housing and great service is very important to us. 

In the end we are able to attract high quality tenants and higher rents.

If it were me I'd fix it up to rental quality, no furnishings and rent to the first qualified tenant to apply (3 x the rent gross household income, no history of court with or debt to prior landlords).