Do not trust what a realtor tells you to be correct. 

Am I correct that a condo, depending on area and neighborhood, could be a lower risk/maintenance investment for an absentee landlord as opposed to other properties?

A FHA 203k Loan is where the purchase price and rehab costs are rolled into a single loan.Assuming you have a respectable FICO you can buy, with a FHA Loan (3-5% down, a 30 year amortization schedule, and a residential loan rate) AND because you closed personally, you will not have Asset Protection, in the form of closing in the name of a LLC/ LLC taxed as an S Corp, or an S Corp.

When the house eventually sold, I contacted the buyers agent and explained it to him so he could be the hero with his clients and show them how they could save a bundle on their property taxes by appealing and getting that corrected!

True although the fires this year just adds to the reasons to leave California (excessive taxation and regulation, overbearing political correctness, downtowns littered with feces, etc.).

You are correct, it is common for DSCR lenders to require the borrower to be a business entity in Florida, and some other states sprinkled across the US.

Proper research, budgeting, and a well-thought-out strategy are key to minimizing risks and maximizing returns.In the end, BRRRR is an active investment strategy that, when executed correctly, can lead to long-term wealth creation, a steady stream of rental income, and a scalable real estate portfolio.

Correct me if I am wrong.TIA

If my crystal ball is correct, we are going to see a lot of these sub2 deals hit the fan in the next 36 months. 

Maybe the P trap under the sink is not filling with water correctly and allowing sewer gas to come back in.