Like replacing the doors/ locks, etc. and  its getting frustrating.Whenever I articulate my frustrations to my wife it causes friction within our relationship I want to get this house rented asap but I wanted to get a barometer to see if perhaps my expectations are a bit unrealistic , especially with consideration that no one could get in the house due to the fleas until recently.

It will require a considerable start up expense in the form of furnishing the units and then getting them rented.

I'm vacillating because I don't want to miss out on any legal, tax, and other considerations (i.e., Does their equity transfer to me?). 

What else should we be taking into consideration here if anything?

I am going to take it all into consideration and start doing my due diligence.

I was told to get a home under contract via the Option to Purchase contract (include a consideration fee given to the seller) and getting all signatures done with a copy given to the seller.

Prices are still considerably higher than just a few years ago.

For the deal I have lined up, I'm going through an informal broker deal, but I'll definitely take into consideration these things when analyzing that deal as well. 

I've dedicated a considerable amount of time to reading books, tuning into podcasts, and educating myself about the real estate market.

It was an early consideration of mine but during my brainstorming it got overlooked.