BP has a lot of useful resources to help you, I have found the most useful thing for me to do was to actually attend a physical meetup or two as it lets you brush shoulders with others in the same shoes (or have been in the same shoes in the past). 

Our company conducts the entire purchase and closing process via email, as well as overnight any necessary physical documents needing signature.

You also don't need to send physical checks, as the deposit stays in the resident's name.

I’m an out of state landlord so can not physically go to the USPS office.Thank you for your guidance on this matter…P.S. the USPS owns my mailbox 

If you have an agent in the market or someone that you trust you should have them post physical notice that you are trying to reach them (and pay that person for their time).

No formula can be accurate across the board because even “cookie cutter” properties next store to each other differ as to view, location to the street, topography of the land, lot size, physical condition of the property, past remodeling, quality of the mechanical systems, sunlight, utility bills, past use, etc.  

FYI - most states require a lease to clearly state the owner, any agent of the owner and give a physical address for rent payments.

See, a professional does not just go for eviction, no, you do BOTH actions at once of the financial side, suing for judgement, and than the eviction for physical. 

I realize that once someone creates a letter of intent they can start on the due diligence phase to learn the financials, physical, and legal but what else can I learn about a property before making an offer? 

The benchmark is what people do for pro formas and try to re-write history in the future, it never works that way.I've been deeper than anybody here in physical asset investing, albeit not REI, and it's just not the case that history is relevant.