This is where it all goes wrong.

You’re chasing the wrong people.You can’t just use a checklist like “tall grass” and assume that means someone is motivated.The sensible solution to foreclosure is indeed to sell, but the emotional response for someone in foreclosure is to find a way to keep their house, not sell it.And what are all the "experts" teaching?

., flushing the wrong items).Also, make sure you do a walkthrough yourself prior to filling the unit.

Consistent with the advice of @Jo Bradley , if I could get through the first couple years financially, keeping current home seems a lot easier than long distance investing...and at least I know what is wrong with my current home (I.e it will eventually need new roof etc). 

It doesn't mean their answer is wrong, but in that scenario, you would want to know if they all own properties in the area you are asking about.

From the conferences I have attended, all I have read I think 3x rent is more common but that doesn't mean your PM is wrong. 

Also, do you have the proper insurance to CYA in case something goes wrong?

I recommend that you don't deal with a gc in the beginning as a new investor because it's to many things that could go wrong.

On the other hand, if having your own home has been a big goal for you, there’s nothing wrong with prioritizing that first and building your investments later.

.- $150k worth of 5/7-yr property which is appliances, cabinetry, carpets etc.This is pretty typical for a commercial property cost segregation, and I see nothing wrong with it.The problem is in the line above that, called "Selling price."