I want to avoid that type of unknown hassle. 

You don't want to venture into unknown neighborhoods on your first purchase, there is enough to learn without dealing with an unknown area.

You're right that I need to know how to recognize a good deal in order to get started.The replies here have already given me some confidence and provided answeres to some of my unknowns.

It allows time to think before responding and lets some unknown person be the bad guy. 

New construction has negative possibilities and unknowns. 

I don't think prices can stay high indefinitely, but when the drop will happen is unknown.

She disclosed to me that she has bad credit due to her past (unknown, didn't tell me more about it), only been at her current job for 6 months, and submitted 2 e-mail references from current supervisor and previous supervisor.

@Aaron Montague & @Patrick L. that was pretty much the situation. i live in chicago and invest in lansing, mi. i found the agent of zillow and she was very well reviewed. she said she'd need to charge me that in order to make it worth her while to work with me. generally, i found her to be a great person to work with. she gave up a lot of personal time to slog through a ton of decrepit houses with an unknown commodity from out of town (me) on the chance we might find a deal. she taught me a lot about the process, answered questions, provided me contacts for electricians and inspectors, copies a lease and rental application she used for her own properties, local information, etc... in general, as a newbie, I found her service invaluable and even if i was unaware that that fee isn't common, i don't feel cheated. i certainly gained something for my money. in the future deals, however, this is something i'll consider avoiding or minimizing. thanks for the advice!

Hey everyone, dipping my toes into an unknown area once again.

April 21, 2014: Plan BI haven't posted in this thread for a week or two, as there have been some unknowns we've been trying to figure out.