Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

What do you think you could rent this for?

This is the first time I have done something like this, where it was for other reasons besides not paying rent. 

By no means cheap but solid rent + demand, fun place to live, decent inventory (relatively speaking), and is still commutable to the city. 

There would be rent of $ 8 K a month on a triple net lease.

Their pro formas felt optimistic with providing 6% annual appreciation and property management that is only about 6% of rent so I take it with a grain of salt (they offer their own property management services but it has terrible reviews on Yelp so I would probably go with someone else). 

The calculation uses the following formula: Total Rent Potential x 75% ≥ PITI (plus HOA if any). 

This works best when the seller is motivated and open to flexible terms.4.BRRRR Strategy (Buy, Rehab, Rent, Refinance, Repeat)– If you find the right undervalued property, you can finance the rehab with short-term funding and then refinance into a long-term loan, pulling most or all of your money back out.5.House Hacking– If you’re open to living in your investment, you can use an FHA loan (as low as 3.5% down)to buy a multi-unit, live in one unit, and rent out the others.

Rent is around $130k  per month. 

My current agent suggested if it made sense financially, to do some rehab work to get the properties rent-ready, but I do not have the liquid funds to do so and sell these as-is.