Had the ability to purchase my first property and the deal was too good to pass up.

If we reduce leverage we may get lower cash returns however we do increase our ability to 'stay in the game' and not be forced sellers should rental rates decrease or vacancies rise.

@Douglas J AndrewsHi Douglas, if you are intent on this property your best bet is to get it under contract with contingencies.A key element in making your purchase offer is doing a critical path analysis to determine the steps, time, players and capital needed to pull the deal off.To save yourself time and aggravation, make your first pass offer the the form of a term sheet.

About the economy changing and having no ability to have a back-up plan since you don't own anything.

Your criteria should match your investing goals.My deal criteria includes three main categories: Location, Team & Value Add.Location: Must be in a city that is growing in population, in a neighborhood that would attract good tenants, and in an area that would appreciate over time.Team: In order to do a deal I must be able to get good lending terms from my lending team, must have a property manager who can manage it, and an investor agent who can negotiate the deal.Value Add: A deal must have the ability to hit double-digit COC returns, allows for forced appreciation, and produce $200 - $400 net cash flow per unit [depending on size of property].If a deal meets all of the above criteria, then the checklist comes up during due diligence.

Next it is just sitting down and following that plan to the best of your ability until you have reached your goal.

Metal panels are clipped down to the roof and no fasteners are exposed to the elements.

Are there specific questions that might give a clue as to their abilities?  

I plan to continue purchasing investment properties, but will slow down since I no longer have the ability to drive by a property and make an offer, for that reason I think my time in Hawaii will be a good time to learn the agent side of real estate. 

Several updates and custom design elements.