We want to see equity, seasoning, a quality borrower, and good terms. 

Historically, full service management on the coast has been costly but in recent months management rates have come down and quality has improved.

@Isaac Terry Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Quality of the tenants2.

Completely agree with you on this; I'm not making any claims to the quality of these lenders here.

A warranty can bring peace of mind, especially if the tenant values quality and reliability.Here’s our rule of thumb:For budget-friendly rehabs: Used appliances from a reputable source can be a smart choice.

Depending on the property far more than the acquisition price may be required and that will also dictate the best loan product. 

@Ming HuangRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

He's already making (effectively) around $350/hr - if he's paid on production he could also just make another $175k a year with those hours. 

Are their listings detailed with good-quality photos?