But your main killers; road access, water access, fire hydrants, flood plain, storm sewers, Storm ponds, road surface requirements, etc. 

Than I thought it was all the things that could go wrong in the flip, hidden gems like K&T hidden in the walls, shot main-lines, etc.....   

We were able to buy low in a good neighborhood since the home was in need of some work, mainly needing cosmetic work and some deferred maintenance.

If so and the monthly payment isn't too bad then you're still moving the needle forward if your main goal is wealth generation and not just cash flow. 

Today's Americans want to live on Sunset Strip and pay Main Street USA prices.

The main issue is a consistent lack of effective management and oversight.

.)- Average days on market- Absorption rate- Historical data on rents and sale prices in the area- Population growth- Main economic drivers (industries, individual companies, etc.)- Crime stats... if you know specific zip codes/submarkets that you'd like to target, the best data will come from local precincts. - and more..I'd recommend remaining active not only here on BiggerPockets, but in other valuable RE investment networks that you can find - i.e. local meetups (meetup.com, eventbrite, BP local events). 

The main challenge was that there was considerable deferred maintenance.

I’ve received multiple quotes from insurance companies (mainly I would obtain the quotes myself).

That's the reason why we sign leases in person, so we can go over the main issues in person and make sure they are understood.