An easy way to analyze a deal is be conservative with your expenses .

So easy to burn the place down if you don’t know what your doing  or negligent .

On-boarding was smooth, accounting is easy - so far so good.

This scales your investing.Forces you to network and depend on a team leading to relationships = more businessForces you to develop communication and business systems to stay on trackConsNot as easy to physically be on site if neededReally it comes down to how you want to invest.

As far as water goes, wells are common here and easy to dig.With hundreds of possible home sites and for the interested developer, this is an opportunity to get in on the ground floor of a serious boom.

My unfinished basement space did not have proper egress in case of a fire for example.

I don't know what your actual numbers are, that's just an example with some easy math.

I like the idea of staying local first. to expand out of state is difficult and you must have a competent and trustworthy team in place which is not easy. 

Screening is very fast and complete - I can elect to accept CC and set the convenience fee (I do charge a tad above costs), and I find its pretty easy to reconcile a tenants payment via "serial number" or transaction ID reported to the bank with both Rentec accounting AND quickbooks - albeit Quickbooks is still manual for me (you can export from Rentec to Quickbooks via CSV... havent got that far along yet.We literally just completed several rehabs (meaning LOTS of expense), so seeing rents come in quickly and accurately is a relief for a change!

What I’d look for is a house that is easy to divide with the least amount of renovations possible.