There are sometimes longer escrows, around 30-45 days, the pest inspection which you mentioned, and sometimes certain safety issues that need to be repaired.

The numbers look good all around, my lingering question mark is around general safety of the area.

Finally, I look at housing starts, price points, infrastructure and safety - both cities are comparable, although Huntsville seems a bit better.

Ensure your property complies with all local health and safety codes.

Most insurance companies will throw $500-$2,000 to someone for medical if they trip and fall on something, as long as it isn't seen as a hazard that should be fixed.

Consider safety, proximity to amenities, rental demand, and property condition when searching for a property. 

As long as everything works (lights, plumbing, etc.) and there are no hazards (like an open ground) the big things are peeling paint (particularly on window sills) and smoke detectors.

Ask about financing and see what their rates are AFTER they give you price quotes.The parking lot is currently causing significant flooding, along with numerous cracks, potholes, and tripping hazards.

Ask about the maintenance history.Units: Visit as many individual units as possible to assess their condition and note any necessary repairs or updates.Structural Issues: Be vigilant about signs of water damage, mold, or pests, which could indicate larger problems.Safety Compliance: Verify that the property meets all local safety and building codes, including fire alarms, extinguishers, and emergency exits.Financial and Operational AspectsRent Roll: Request a detailed rent roll to understand current rents, lease terms, and tenant occupancy.Expenses: Get a breakdown of all operating expenses, including utilities, maintenance, insurance, property management fees, and taxes.Income Verification: Ask for historical income statements (preferably 12 months or more) to verify the revenue.Vacancy Rates: Inquire about the historical and current vacancy rates and how they compare to the market average.Tenant Profile: Understand the tenant mix, including residential versus commercial tenants, lease lengths, and tenant turnover rates.Property Management: Find out if the property is currently managed by a professional management company and if you will retain or replace them.Legal and ComplianceZoning Laws: Ensure the property complies with current zoning laws and inquire about any zoning changes that may affect the property.Rent Control: Determine if the property is subject to rent control or other regulations that could impact income.Permits and Licenses: Check that all necessary permits and licenses are up to date.Value-Add PotentialRenovation Opportunities: Identify areas where you could add value through renovations or upgrades.Rent Increases: Assess the potential for increasing rents based on market rates and property improvements.Additional Income: Explore opportunities for additional income streams, such as laundry facilities, parking fees, or storage rentals.Environmental ConsiderationsEnvironmental Hazards: Check for any environmental issues like asbestos, lead paint, or underground storage tanks.Flood Zones: Verify if the property is in a flood zone and the implications for insurance and risk.Questions to Ask the SellerReason for Selling: Understand the seller’s motivation to gauge the urgency and possible negotiation points.Recent Repairs and Improvements: Ask about any recent capital expenditures and future planned repairs.Tenant Relations: Inquire about the relationship with tenants and any ongoing disputes or issues.Due DiligenceProfessional Inspection: Hire a professional inspector to conduct a thorough examination of the property.Appraisal: Obtain an independent appraisal to verify the property’s market value.Legal Review: Have a real estate attorney review all contracts, leases, and legal documents related to the property.By covering these aspects, you’ll be in a stronger position to make an informed decision about your potential investment.

Samantha Reeves,Thank you for your reply I went through the Handbook , and although it's quite detailed , it seems to me that as Long as the Roof is in Good shape, there is no Peeling Paint on the Exterior of the house, and that the HVAC system is in working order , as well as there are no Safety hazards regarding  the property/house.What I'm not sure on though , is what if there's Some rotten wood on the exterior and or you want ( Need ) another $5,000 to upgrade the house .....new cabinets, faucets, flooring, re-paint the inside ?