I kept reading through the book saying to myself, "guilty....guilty," as I saw the flaws in the current systems or lack thereof, we had in  place.  

They NYTimes has a very good rent v buy calculator:http://www.nytimes.com/interactive/2014/upshot/buy...One major flaw when analyzing rent v buy is you need to compare apples to apples.

That included getting a team in place, educating myself here on BP and other books, actively looking at the market to identify where I wanted to invest, determining my strategy, realizing there was a flaw in my plan, finding a private investor, and finding a deal that met my criteria. 

Kyle Krason I just fired a pm this past June She had 2 flaws.

For right now, I can tell that you still need to uncover more details about how to invest, and how to ANALYZE WHAT IS A GOOD DEAL AND WHAT IS A BAD DEAL, AND EVERYTHING IN BETWEEN.

The home inspection should uncover any sins the property may be hiding.  

But don't fire them because of a single bad tenant, fire them if their process that led to that tenant being placed was flawed.

If you uncover that answer, it may shed some light on the investment (maybe it's good info and it satisfies my skeptical approach)I have found the biggest three seller motivations (with landlords) are:1) Tenants are subpar and current owner is tired of managing (in this, you're inheriting headaches, eviction, and much higher repair costs than you expect). 2)  An estate took over and just wants to get it gone (in which case there is probably a back balance owed that needs to be flushed out along with a general lack of property knowledge). 3)  My personal favorite: the Owner bought via tax sale deed (and therefore does not want to be a landlord, just wants his investment + reasonable return).If everything checks out, it sounds like a great deal bud.  

Ultimately, what that means is both have merits, and both have flaws.

Week 1 in my money raising efforts, I quickly realized that the above statement is flawed..