Because I will never go into anything that is losing intentionally it's like asking me to choose A or B: take this 50k check or write a random 50k check to a politician.

Not in all cases but more often then not.Additionally you have to have solid management who is checking on the property at a minimum once per quarter as many times I find these tenant don't always report issues timely.  

Check out REI Central and the CHS Circle.Let me know if I can help with anything.

I use problems like this to go an check out the problem and then the entire property while I'm there, looking for other problems, but also assessing HOW the tenant is taking care of the property.  

This ensures that any settlement check will be issued to you AND the tenant - and that you can interact with the insurance provider.  

@Leeling ChewAbsolutely, you should background check every adult (18 or older) who will reside in the property.

Because instead of collecting one rent check per month, you’re collecting multiple payments from different tenants.

You can also check out local Facebook pages in the markets you are looking in.

I see it somewhat regular of people who got into a "deal" with HML, to do a Brrr and now it's half done reno and there desperately trying to sell it as-is to bail them out. 

Double check financing before making an offer.