Networking in real estate investing is vital so don’t be daunted and go to the events!

Basic, setup a profile picture :) That would the first layer trust/transparency with anybody who might work with you.

Knowing the Market Values and Rental rates for your target area are vital to analyzing properties correctly.  

How vital is research into the area that you're investing in?

Getting plugged in to the right team is vital as I have seen groups here locally that I consider predatory, especially to out of state and out of country investors. 

I'm looking at it like, if you take the $140k, it has to earn you 12% or more to be a better deal than taking the cash flow.I am however, not nearly as experienced as most of the above posters, and am probably missing some vital part of the equation.

Could have pretty layer on top and all junk underneath in bad shape.

If 1 seems out of wack I dig deeper. yes, the umbrella offers a layer of protection in the event of a Lawsuit but the LLC  may help prevent a bogus claim. 

Not a bad idea for an extra layer of protection but I formed the LLC specifically for the purpose of rental properties.

So I drive out and in-person I can see there were no less than five different types of exterior siding, at least 4 layers (all showing) of linoleum in the kitchens, multiple floors were sloped, a couple were "spongy", and the back unit was an add-on that may or may not have been legal (but definitely a former porch).