I am not an expert by any means so take this with a grain of salt.  

Also i would like to invite experts in that area to give some inputs on  costs involed,  steps and gotchas to be aware of ?

Hello tax experts!

Visa versa, there are people doing relatively well targeting section 8 tenants who use PMs that are experts in that model.

Any 1031 exchange experts awake at this time?

Do you know who is the #1 expert in SUB2 deals (also known as "Subject to")?

I'm no expert in MA, and it is a wide question.I'm from NYC and have bought a few condos in Springfield, MA as rentals.

My personal opinion is some investors become overly concerned with the macro economics of a region while I'm concerned with can I rent "this" property in "this" neighborhood for "this" amount at "this" time?

I started last year doing essentially the same strategy you have and while I would by no means consider myself an expert I have done (6) with 2 different banks so take my advice for what it is worth. 

If you don't like it refuse to approve that lease and tell the Seller he can fix it or find another Buyer.Too, if the rent was set at some ridiculous amount or some other odd conditions (i.e. 99 year lease with no increases), I think you could argue in court that the Seller was committing economic "waste" of the property, and just like if they decided to rip out all the plumbing the day before you close, you could back out without penalty.