They do have major issues at times. 

I know it is possible to individually search county records for each properties' county website which I will absolutely do once I am ready to make an offer, however when I am simply browsing properties online without MLS access, I don't think that should be completely necessary just yet.

All sorts of things that aren't online. 

You just want to ensure that all of the major functions have been upgraded - like no more knob and tube wiring, for example.

You should be able to pull a free copy of your credit report on line in only a few minutes, to double check it of course. 

Just want to make sure I don’t miss any major steps as my own agents, which is not an experienced one yet obviously. 

Based on one brick and mortar merchant in my property's city and one online source that still had pricing available, the part cost between $326.21 and $355.42 excluding labor.

Online on the MLS, we made an offer that was rejected so we went in escrow on a different property, while in escrow we recieve a phone call asking if we where still interested and we came back with same offer but a very strong 1 month closing with us performing our own home inspection.

CapEx is included, but is considerably lower because it's a very new, excellent condition property (I considered things such as paint, appliances, flooring that would be needed while we still own the property).Purchase Price $350,000Purchase Closing Costs $1,300Total Project Cost $351,300ARV $350,000Down Payment $12,250Loan Amount $337,750Amortized for 30 yearsLoan Interest Rate 4.6%Monthly P&I $1,731.46Total Cash Needed $13,550.002% Rule 0.85%Initial Equity $12,250Monthly Income ($1500 per unit) $3,000 Monthly Expenses (Including CapEx) $2,607 Monthly Cashflow $392 Pro Forma Cap 7.28% Total Cash Needed $13,550.00Cash on Cash ROI 34.73% Purchase Cap Rate 7.28%Est Vacancy $150PMI $200Est CapEx $63Insurance $80P&I $1,731.46My only major concern is that I'm not meeting the 2% rule (and just short of 1%, even), but this is probably the closest property I've seen, and has a significant cash on cash ROI.

So yes, it makes sense that someone who doesn't understand the basics of cash flow to have an emotional reaction to it because they don't see the very first cash flow as negative.Once you get the understanding of the basic of Cash Flow, you then understand the only way to really know your Investment is to sum up all the future cash flows.So the very first Cash Flow is Negative.The remaining cash flows before the Sale is either positive or negative, depending on the rents minus the expenses and the debt service.And the LAST cash flow is almost ALWAYS positive unless you become underwater with your mortgage.Given that, you can easily put together a list of cash flows and then the calculations of the IRR is so simple, it makes you wonder why the Majority of Investors really don't do it.