I heard the buzz about incorporating in Nevada.

Something else to keep in mind with multiple family if the units are on top of each other it can be troublesome based on having a loud renter on top will drive your downstairs renters away.Remember you will need to carry this property til it is up and running, so have some reserves.Not to be a buzz kill however if you have little money and if you not careful in your due diligence this property will be a nightmare.     

Nothing's wrong with looking into MLS (deals are hard to come by nowadays from there), but primarily market to motivated sellers.Good Luck!

I use the Roth option for 100% of my 401K funding nowadays.    

Nowadays the internet has just about all the information you need so finding crime rates for different cities is just a matter of searching online. 

@Sri Voodi thanks for the heads up, I've actually put a lot of thought into it and it does scare me a bit, any good recommendations on management, is there a specific one, I was actually looking at Marshall Reddick, but I'm a bit skeptical due to the talk about bad PM nowadays.

We can prepay or pay off the loan at any time.Years ago I would have been terrified to assume so many properties, but I have more confidence nowadays that the rental income will cover unexpected expenses and vacancies. 

These clauses are contained, in all Promissory Notes nowadays.

To me it seems like a layout most people nowadays would not want.

That's what matters, SOLD comps.Not to be a total buzz kill on your idea, I think your best option if you can qualify for it, would be a "Homepath Renovation" loan that covers the purchase and repairs all in one loan.