That should catch most of these issues.Some, you'll never know about until someone actually lives in the property. 

Be flexible and keep an eye out for opportunities, as they often come when you least expect them.

Keep your first deal simple, and don’t be afraid to reach out if you need help or want a second set of eyes on a deal!

I'm just suggesting you be well informed:I loved reading Robert Kiyosaki's "Rich Dad Poor Dad"... it was extremely informative and eye opening... albeit told in a bit of a crazy way.  

Market Conditions Keep a close eye on the market, both locally and in terms of refinancing opportunities.

You can only play games for so long.Chances are your next door neighbor is an IRS agent and turns you in when your tenants blocks their drive or some other random event disturbing your IRS neighbor.ADU catches fire and your insurance won't cover you, because it was an illegal and unpermitted structure.The city inspector told the last guy not to build or rent it, and is now pissed and wants to make an example of you and just red tags the whole property and no one can occupy for the next 1-2-3 years while you wait for a hearing.Then when you get the hearing, "staff" recommends you tear the whole structure down, and if you still want an ADU, you can apply for a permit and rebuild it.Your tenant quits paying rent and won't move out and you can't evict them, because there is no valid lease and they're just your "roommate".Probably a dozen other bad things can happen to you when you do stuff like this. 

Not too shabby for land appreciation.That said, I’d keep an eye on the Elon Effect down southeast.

Also, as others have noted the way you appear in a lenders eyes will change as soon as that $500k salary goes away.

You may hear different from some here, but my advice is NEVER purchase something you don't lay eyes on. 

I have eyes on a property that I could get at about 120-130k after speaking with agent.