You might also factor timeline into this equation.Keep in mind that you aren't wrong about multiple doors under one roof, however, many other people have the same feeling you do, so that commodity in the market might be hot.

There are numerous blogs on how to vetted a PM, if I follow those guidelines, would that lessen my chances of finding the wrong PM?  

It's around $1800, yeah it looks like a bad one, but I'm betting on future tech companies (apple, google) to bring more positions to the city and appreciation might be able to cut it, but I could be totally wrong though.

Being analytical in nature I have to fight against the analysis paralysis when looking at non-performing loans because its easy to find things wrong with them,  but that's why they will sell at a discount. 

Make sure you check the buildings sale comps so you can be very certain you'll get the ARV you are expecting from the flip. and make sure others have successfully sold recently in the building or see if there is something wrong with financials of the HOA. just something to keep on the back burner for later for future deals...

Others can correct me if I am wrong, but if you get a LOC and draw on it, that draw will count against your DTI as you have taken on more debt.

However, they might tell you certain things are wrong just so they can fix them. 

The mileage simply won't add up because of the unrecorded personal trips.I DO want to play by the rules, don't get me wrong on that, but I want to keep it simple.

These are the tough critical questions that you need to know the answers to BEFORE you even go under contract for that first property.If your loan officer and realtor aren't working through that same thought process with you, then you're working with the wrong people.

If you have both you cant go too wrong.