Another is your credit utilization vs all credit available to you. 

Aaron - thanks for the post ...wedge area off Monroe is solid .....make sure your financing is in place and lined up  before  beginning to property shop ....traditional lender have  programs that allow as little as 15% down if the  rental propety is a  1 unit 

My gut says you probably want/need separate policies for the different entities at the very least - the purpose of having them is to keep things separate in case of a lawsuit, so combining insurance would pierce the veil and allow someone to come after everything. 

Closing a new loan right now and the underwriter is making me close a HELOC because of the number of loans I have in my name.

The previous buyer fell out of escrow and he was hoping I could do a quick purchase to get it off his books.

Test

You could also ask if you could do your inspection prior to going under contract and then make an offer without the inspection contingency. 

the market is unforgiving right now, and if you buy a random property by looking on Zillow and turn it over to people you don't know to manage, you'll lose money.with respect to your specific question, if the property is safe, clean, and priced correctly, it will rent. but that doesn't mean you'll make money on it. 

I don't have any pending legal issues at the moment, but I've been thinking I should find a lawyer that I can go to for questions, to review documents, leases, etc so that I can have confidence that I'm not making any silly mistakes that will get me into trouble later on.

You could make the same amount of money (or more) without the time, stress, or energy required as a DIY Landlord.If you do decide to manage yourself, you need a quick education.