Have bought hundreds of property at auctions, including the first property I bought (detailed in Bigger Pockets Podcast #82) and the very first thing is you have to know value. 

Both of these have drafted up sales docs for the State I bought in, to include the contract up front.

Management company said they had an applicant that applied and they were in the middle of reviewing the applicant and therefore if they “approve” we have to use them and then they will give us management.As landlords, we just received lease to sign and there are some addendums we want to add for our property to protect our property etc. if the management company refuses to include some of our requests for the lease, does this give us an out to not have to sign the lease???

I pulled up homes on Stetson Cir 95691 and a 5 bedroom 3 Bathroom 2,377 Sq Ft. home is quoted on Rentometer as $3,218/mo average with a +/-2% range on a 36 mo look back and 1 mile radius - the radius is important so as not to include Land Park homes across the river.

"Good Cash Flow" includes multiple elements.

The operating company takes on all of the liability that would otherwise blow back on you including: paying property management, paying contractors, collecting rent, marketing, etc.

So things that are a red flag for me may be fine for someone who's more aggressive.

The lender will qualify you (there's a rather 'red flags list' that is used) - as well as have you sign all the occupancy declarations - that pertain to the financing prior to closing.

The key downside to this repayment schedule is that the borrower is paying interest every month, based on the entire loan amount (including the amount being held in reserve for rehab draws), even if no draws have been taken yet.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases.