They can't possibly cover all the situations that you may encounter in real life. 

One problem I've encountered is that I need to babysit my listings!

Maybe that deal is not available, but if it is representative of the deals you expect to encounter in the future, you can discuss terms, payments, etc. ahead of time.

As far as determining a reasonable asking price, you will need to see the NOI on the property, and determine the CAP rate that is the going rate for your area, then factor in any capital expenditures that you anticipate encountering such as replacing the roofing, HVAC, etc...After that, you'll want to determine what the cashflow will be and make sure you'll be able to service the debt, set aside money for vacancy, repair, and property management, and however much you'd like to net in cashflow.

If you have to handle the eviction yourself, offer the seller a lower price to account for any delays or damage that you may encounter. 

This is what I am encountering, in the current Mortgage Industry.

Any investor acquiring inherited tenants will almost always encounter this issue, so I would not sell yourself short yet. 

., then once you find a good P.M. or any other piece of the puzzle I would hit them up for referrals as birds of a feather tend to flock together.This reminds me of the first quality person I encountered in Detroit, he was and is a realtor who has always been up front and honest.

We have also created a live spreadsheet on Google docs that we update with maintenance rules and expectations (for both the tenant and owner) that can be updated as you go (for when you inevitably encounter something you hadn't even thought of lol).

Are all questions I'd want to know on a first encounter.