They mainly just examine the property characteristics and your exit strategy. 

I would be taking the exam in Minnesota. 

Again, others might feel differently here.3) property level due diligence: (takes seconds to weeks per deal): here is where I drill in with the low-level details.a) pro forma popping: I examine all the assumptions, and see if they are overoptimistic or not.

The sellers claimed it was cleaned up but upon a re-examination we found human waste STILL in the basement, not to mention the guy cleaning it up was just a maintenance man and had not come close to taking  appropriate measures to rectify (a shovel and hose doesn't clean up bio waste).

(Google "Texas" and "real estate bubble" for a great article by Texas Monthly examining why.)2.  

After a discharge you can deal as you normally do, but I suggest you examine the credit side very carefully. 

I started off driving slow through neighborhoods and closely examining every property to determine if it was vacant.

Looking to forward to hearing some more details on this as you examine this opportunity further.

But  I have the lanldords policy at 300k per occurrence and don't have the extension from the personal to the rentals (which you may want to have professionally examined to make sure that is the case).

Personally I am examining it in two ways.