Also drive around and look for indications on whether this area is safe, clean, or on the way up or down in terms of condition and crime.Pull the Neighborhood Crime Information: Most metropolitan police departments either have web sites or information they can give on a particular area.

Just didn’t enjoy them.I found this approach comfortable and less “risky” in terms of my sanity and peace of mind which I value greatly.Here comes leverage!

What they have is someone with no resources either in terms of buyers or cash to close if they cannot find a buyer. 

Any recommendations in terms of becoming a private lender or finding rehab/flip opportunities where I can be the passive investor? 

However, you have to run the numbers and see if it is worth it in terms of attracting more rent.  

-The current tenant situation, although I will recieve the current leases soon for review.What would you suggest in terms of ideas for gaining better visibility of the properties situation?

I've personally never done one of those but there are investors on BP that swear by them. they are expensive with high interest rates and you pay a lot up front in terms of loan "points" but you don't need to go through the exhausting underwriting process that banks do, and you can get the money in a few days if everything checks out with the Hard Money Lender and the numbers work.

From websearch, it seems a better deal than heloc in terms of interest rate.Also is there a limit of how much cash I Can take out.

In terms of appreciation, nothing would surprise me! 

"Maybe" might cut it for you, but for the client, that is an unacceptable risk.A licensed realtor brings a lot to the table in terms of licensing, insurance and time.