There's no reason to lie, just tell them how hard you will work for their business and your goal is to get them to refer you to all of their family and friends.

Making $0.5m to $1m per property was common.  

Algebra and Geometry books on how they relate to REI.Proper knowledge on ho to analyze marketsThe importance of learning as many different strategies as you can, and then knowledge about those strategies, how, when and where to apply them, and the math behind them.Learning what a REI Plan is, and the difference between a Plan, Financial Goals, and the steps that lead you from where you are to your financial goals.The most important knowledge, is how all of this goes together.Now I've already done all of this, and more, but these are some of the most important things that are lacking out there.

All pretty much common sense stuff.

I don't know if this is common in most politically blue states, but I heard a lawyer from Los Angeles once say this (from his experience with SoCal judges): the failure of a tenant to procure renter's insurance will not alone constitute sufficient grounds for eviction under a lease agreement.

Ultimately, the decision will depend on your personal preferences, financial goals, and risk tolerance.

My long-term goal is to have a decent cash flow in order to quit my W2 and work at real estate or property management full time. 

It’s important to figure out your goals and objectives, and then that will ultimately give you a few areas that you can narrow it down to.

Our end goal is to retire early.

One common distressed seller I've been finding are landlord-managed multifamily properties that have a commercial side and residential side in C/C- areas.At first glance, they have good cash flow... but they come with a tangled mess of existing tenants who pay way less than market value and usually have a longer term lease on the commercial side, meaning you'll have to sink in a lot of time and energy to maximize their profit.It seems like it could be a good niche to go after if you know how to maximize the cash flow OR it could just be a massive headache and money sink if approached the wrong way.