The rational is always the same.

I have been trying to figure out how to work as the middle man between the seller and other investor in a situation like this.

I understand why there are more flippers, it's much more exciting, glamorous and the money appears quick and easy, and if you're located somewhere where real estate is expensive, it's the only rational choice... but that being said, rentals are our main focus!  

Language that addresses and defines "normal wear and tear" on carpet and paint, states number of years of expected life of paint and carpet, and how pro-rations will be deducted from the deposit for damage beyond such wear and tear.No roof access.No smoking anywhere on the property by tenants or guests, including anywhere on the exterior grounds.

No...and the rationalization of using your job income to pay for it makes no sense. 

Will send my ideas your way to help me decide if I'm rational or not. :)

It amazes me how many times someone says they have a great deal because the purchase price was $XXXXX, and the rent was $XXXXX, then when I ask them what the CF was, they still go back to the high rent...as if they got to keep it all.REI isn't really brain surgery, unless you make it out to be by rationalizing bad deals into good ones. 

Those same things that it make it more likely to be able to get traditional financing, will make it less likely to be a good deal for the new real state investor (meaning, less likely to win the bidding war), since now you've got a rational calculating buyer facing competition from owner occupants buying on emotion.

It's like cutting out the middleman.

It's this attention to the exit, understanding what that may look like, when, how, and why, that is so important.None of the other metrics require you to rationalize your investment into the future all the way into the disposition.