Hopefully, you already asked to see the following items:- lease agreements (look for: special maintenance clauses and what items the tenant is responsible for repairing if any, late fee dues and dates, security and extra deposits, what the owner pays vs what the tenant pays for utilities, landscaping, pest control, etc)- payment ledger- notices given (if any)- copies of annual inspection reports- Estoppel Certificates (show rent, amount of security deposit) if you do not have an agreementYou will need the current property management company to also provide you with current tenant contact information, keys to the unit, and any paperwork listed above.

We can find a way to pay for the taxes annually on it but really that's about all.

@Pamela MitchellYou can upgrade to Pro annual here https://www.biggerpockets.com/proupgrade and use code 90days from Brandon's last webinar

My property is in one of the best locations of that market, and annual appreciation has been steady for a few years at 20-22%.  

However, according to the Florida Department of State webstie, it does require each LLC to pay a $125 initial filing fee, plus an additional $138.75 annual fee (as part of the annual report you would have to file). 

Your taxes on this property will be $1,725 annually.2.

Insurance in "500 year flood zone" much less expensive [$400-$600 annual] on $150K property.

Positives: Great cash flow -- full occupancy at current rents, with local property management, will net us more than 10-15% of home value annually. 

You are right about the screening though, I did do an online screening that looked good but didn't call her boss to confirm annual salary and there was no old landlord info as she lived with a friend who had gone on business.  

I would advise her on investing into a mutual fund that could earn 8-10% annually on her $100K, but otherwise, she can just use it as needed from checking account.