I have many connections around this area and could easily pick up a couple properties in excellent areas that could net $500/m. 

Is it in a desirable/easily rentable location?

The questionable cost factors are always in what you renovate, labor and materials.Two numbers you can get easily enough.

By establishing that a debt is beyond the Statute of Limitations, John Doe can quickly and easily dismiss any suit his lender may file to enforce collection of the debt. 

I have only one other mortgage on a rental property which rent easily covers its mortgage.

Whats your thought.In the event of an audit, a talented auditor would follow the paper trail and would be able to easily see that you were not entitled to claim this as mortgage interest.  

I have referred many deals to many title companies over the years, so I have access to that information, but it is not always easily accessible to everyone (well, before auction.com).On numerous occasions I have been at the courthouse pulling up auction.com on my tablet to check out preliminary title on a property I am considering bidding on. 

BiggerPockets with its new publishing company could easily copy the Tools of the Titan's format and draft up a great book on all the interviews Brandon and Josh have done.  

These things may need to be inspected by a professional and can easily eat your profit margin as a flipper.

I can easily pull $450k out today to "out food on the table"..... not bragging, just trying to a make a point of invest local ....