Keeping an eye on Federal Reserve policy and mortgage rate trends is crucial to timing your investment and budgeting accordingly.2.

I need eyes on the house as close to checkout as possible and the cleaners are our first line of defense.

See, you already decided it's impossible before ever even trying, or looking with open eyes.

I agree with you...there are going to be some opportunities but from what I've seen so far, lenders and banks are trying to keep the failures out of the public eye for the most part. 

Beyond the formal checklists: no evictions, 3-4x income to rent, prior landlord references, employment checks; I would also look at things like responsiveness to communication when we are setting showing, were they on time to showing, did they look me in the eye and shake my hand, did they show up to showing high?

Any and all eyes and insights are welcomed.

Keep your eyes peeled! 

@Jeremy Anhalt We did a showing for $1,300 and they didn't bat an eye.

My two cents would be to start with a solid business plan that accounts for phased development.Also, even though you're outside city limits, keep an eye on county regulations.

Many BP members organize meetups, so keep an eye out for those as well.You’re already on the right track, just keep building connections and adding value to others.