Basically, I try to identify every problem first and then I start to record.With pictures, I start outside by standing at each corner of the property.

Purchasing the property basically wiped out all my cash, but if i really needed I could use my ROTH IRA in a pinch. 

When multifamily investors talk about 1.90X, or 1.65X equity multiple, are they basically saying that if they acquired the property for $20MM, they will sell it for $38MM, or 33MM?

For example:  First step/page is just basic info... name, phone number, email.

I will echo what @Thomas S. has said.No matter what you read, you need either money or access to it in most cases to make it in this business.Learning how to do the work, even on a basic level, will give you a lot of knowledge and save you money moving forward also.

These days there will often be a map, where you can either click on the property of interest, or enter the address, and get a basic report - whose name is on the property tax records, how much the property tax is, the square footage, year built, etc. 

Good good basic list Martin.

I didn't know anything about rehabs but taught myself to lay floors, tile a bathtub, paint cabinets, paint walls, basic plumbing, you name it.

I do of course also check google about upcoming constructions, big business moves, and basically any local information. 

The list is several pages long and basically protects the landlord at every turn.