Based on that, I would say none of the markets you listed are going to be great for cash flow right now for a variety of reasons, especially if you are looking turnkey.  

I have learned the most from being a part of my RE office/community and speaking with the variety of seasoned investors and agents.

If the numbers don't match, you have a variety of factors, so I would set up a temporary account, to park the number, and use it when the whole picture with the tax consequences are known.

The title search will reveal any liens, delinquent taxes, etc that could kill your deal.

Heck I can't even get close to that Number.Hi Marsha,You need to look into the Midwest.We still feel like "kids in a candy store" here in Toledo.We can pick and choose the best deals and have been buying the same product for 5+ years now.MLS, Craigslist, yellow letters, bird dogs, wholesalers, etc...When the real estate agents says "Highest and best" we always respond with "we wish the highest bidder all the best" lolThere really isn't a need to pay even a penny more because there will always be another deal around the corner.You need to have cash and close quickly.Once folks know that you will perform, you will start getting inundated with deals from a variety of sources.Much success

That would be revealed during title search by the title company correct?

Once I get the rehab estimates, I would then make a cash offer through a real estate agent and try to do a quick close, contingent on an inspection that reveals no major damage, i.e., termites, busted pipes, mold.  

Liability umbrella policies are available in personal and commercial varieties.

Folks living in a permanent home do not want to live next to a hotel, for a variety of valid reasons.

I worked with Mary Patterson and have dealt with Dave in a few cases where we needed to think through a variety of structures and they ha e been fantastic to deal with.