This can all be completed now but I would recommend you focus on finding a property first so you do not waste too much mental power thinking about the lease.

Once you know what your hypothetical buying power would be, you can shop and see what type of property you could actually buy.

@Karl Denton a slowing market may not be the best time to invest in a questionable area.Many OOS investors set themselves up for failure because they don't truly take the time to understand:1) The Class of the NEIGHBORHOOD they are buying in - which is relative to the overall area.2) The Class of the PROPERTY they are buying - which is relative to the overall area.3) The Class of the TENANT POOL the Neighborhood & Property will attract - which is relative to the overall area.4) The Class of the CONTRACTORS that will work on their Property, given the Neighborhood location - which is relative to the overall area.5) The Class of the PROPERTY MANAGEMENT COMPANIES (PMC) that will manage their Property, given the Neighborhood location and the Tenants it will attract - which is relative to the overall area.6) That a Class X NEIGHBORHOOD will have mostly Class X PROPERTIES, which will only attract Class X TENANTS, CONTRACTORS AND PMCs and deliver Class X RESULTS.7) That OOS property Class rankings are often different than the Class ranking of the local market they live.8) Class A is relatively easy to manage, can even be DIY remote managed from another state.

I am a carpenter/natural builder, and work full time for a small yet powerful contracting company doing historic restoration, general carpentry, natural building, and new builds with a focus on energy efficiency and healthy housing.

In Baltimore, the tenants have all the power, if you can't get used to that, don't invest in Baltimore.

." :)BIG HAIRY GOALS:3-6 mo's: Build up a power team and network of contractors, financing sources, and investors, as well as a lead stream from direct marketing, networking, D4$'s, etc. 

If they do not give you any power over leasing or tenants, then there is nothing you can do except amend them, and THEN implement your procedures outlined above. 

As far as I know, one great difference is the power of leverage.

Connect with other investors face-to-face as much as possible.Also, assemble your power team: *Realtor, *mortgage broker, *lawyer, accountant, contractor, home inspector, insurance broker, mentor.* = must havesHonestly, a mentor is a must have too, but if you're not ready to pay for one, a good mentor can be hard to find.

The first repair he wants to do is to fix the 3 ceiling fans throughout the house. 2 of them don’t have power going to them and 1 is broken.