I worked with my agent (who was also a PM and friend of mine) and determined that I could get rent that could cover the mortgage and the operating expenses, reserves, vacancy, etc with a little cash flow.

Welcome Chris to the best Investor resource on the internet.

(Another reason I don't care for internet LLC form stores, BTW).

@Ronnie Sparrow there are two kinds of due diligence you need to doFinancial due diligencePhysical Due Diligence The first one is to determine if this is a good deal.

The home is on Heaton Road in Columbus, Ohio.I'm having trouble determining what the rent should be.

If it's a head broker they can determine what they will work for but if it's an agent or assistant broker etc. they have to do what the brokerage wants as it's the head brokers client.

I try to get as much info as I can about the owner so I can determine the level of care and the quality of services he implemented.

For some of the mailing addresses, when I look them up on Google maps, they are office buildings, some of which I'm able to determine are banks.In these situations, is the property in question a foreclosure or could there possibly be a different reason why the owner's mailing address is listed as a bank office?

If the answer is Yes .. how does one ascertains that he does not overpay for the property and determines this is a sound investment?

You make offers based on what the value is and what repairs you determine upon inspection.