what you have there is a dig out.. nothing poored yet..Not sure what planet they are on where they say they can build a home in 6 to 8 weeks.I mean technically if you do it on TV it can be done.the best Texas builders can bang them out in 75 days or so..

Hey Shane,Congrats on making the decision to invest and have your money work for you. 

I see houses is Whiteville posted on the Wilmington craigslist from time to time, usually overpriced and in a poor rental area. 

Experienced landlords do this intuitively and spend a lot of time collecting information to make the best decision. 

I have begun looking into purchasing some rentals this summer.Rich Dad Poor Dad got my interest reignited and I have read or listened to 6-7 books and have been making my way threw the Bigger Pockets Podcasts. 

I can understand the desire to have a great cash flow and high ROI with no $$ in the deal, but I don't see the point in running your numbers based on that goal, and making a decision based on those number.....especially if your real plan is to put 20-25% down anyway......If you can find a place that cash flows well with zero down.....and isn't a BRRR deal, then that's pretty awesome6.5% ROI isn't "bad" .....its just not great.....there are other OOS places that have the potential to do better....but some of them come with a higher risk (lower class neighborhoods etc).

What don't they do or do poorly? 

Since my parents would be residing in this condo initially, it would be likely fine during the correction if one happens, but since they are close to retirement it would behoove them to make the best possible decision for this purchase.

I still do my due diligence up front and am involved in the big decisions, but I'm not a part of the day-to-day operations. 

You may not find anything, in which case the problem of your decision is solved.