Mastering the Rockefeller Habits.

Any cons or things that I may find out harms my cash flow after I’m in too deep?

Just because you cannot see it, doesn't mean it cannot harm you.

In short - you never know the motivation of the seller, so if it really is a deal that works, there is absolutely no harm in putting in an offer.To piggy back on what @Randy Rodenhouse said, know that your property taxes will not be the current property taxes on the property.  

did ask if we can allocate tenant monies received to rent last (that is, pay outstanding late fees before current rent); Jaime basically said that was not a good idea under the current law - that the court would likely re-allocate when assessing damages and it might harm your case to have been more aggressive.Also, Jaime felt that raising rents and offering discounts for early payment could work - that way it's unpaid rent, not a late fee, in the eyes of the law. 

Pfft.Time-wasting habits - I appears that some agents don't realize that investors are more interested in numbers than "walking properties".

We don’t know any PMCs to recommend in the area mentioned, but since selecting the wrong PMC is usually more harmful than selecting a bad tenant, you might want to read our series about “How to Screen a PMC Better than a Tenant”:https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesWe recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

As far as systems go I'm learning more about landing off-market deals with buyers.What I'm afraid of is when the downturn gets worse the government will once again pause evictions and/or will implement some bonehead anti-business agenda that unfairly harms landlords. 

Since the dog can really do no more harm I have resigned him and expect him to stay or many years to come.

In a City that has a STR regulation it is probably prohibited as it wouldn't fall under STR but under 'camping' or 'transient habitation'.