Before buying or renting in an unfamiliar neighborhood, you should check the following two sites: SpotCrime, AreaVibes,These sites provide valuable information, including Livability Scores, which cover aspects such as crime rates, employment, health, housing, schools, shopping, and more.well, anything can happen anywhere.

I've not covered everything but just given you a start. 

The pet fee or deposit for the move in of 2 cats (you did charge one, I hope) should have just about covered the extra anyway.

What surprised me is that USAA covered all of those houses.  

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

I'm trying to get a mortgage, but it's entirely possible that the mortgage might not cover 100% of the price of the house.

(I am starting investor, please understand)So many guys are buying in second-hand market, when original can not cover their mortgage payment because of the depreciating rent, and let go of their property at great value.

Hi Adam,The seller pays the seller commissions and (usually) covers the buyers commissions as well so you shouldn't worry about those fees.The 10% vs 20% I feel like is a personal opinion.

In other words, your renters have covered a majority of your costs of ownership this year, including covering your debt, and you have to put some additional money in, which raises your cost basis.