Now this being said, if your company is matching your contribution or something like that then that is something to consider.

I sugges you begin to understand your market: identify the city & sub-city you would like to invest in, do all your homework on the area, make a trip and meet everyone that’s worth your time, take a map and highlight the good and bad areas, identify a realtor that you believe is the best match for your needs and analyze as many deals as you can along the way. 

Make sure your material cost matches your receipts.

When you say one thing but do another then you may confuse the tenant and cause additional problems. i recommend you either follow your agreement or change it to match how you behave.

@Michael Workman - perhaps they bought it off-market last year at a price substantially below the tax value and had the tax value lowered to match the purchase price? 

I've also had 1031 buyers with time constraints pay retail knowing that the properties are in great shape, records to match, and property management is on point.  

Instead of renting out the whole house, they match up roommates to sign a lease together.

From the 1031 perspective the tax payer has to match. 

Divide the labor cost by what you think a good hourly rate is, and see if the number of hours matches reality.For the hourly rate, the federal minimum wage is currently $7.25 an hour. 

yes we did, closed on December 19th, everything went smooth other then the land side of things, the deed information never matched what was listed by auction.com, they were auctioning it as 3.6 acres, the square footage of the lot only adds up to 2.6 but if you go back 3 owners to the 80s the deed says 5 acres give or take with the same lot information, somewhere along the line the 5 acres give or take was removed from the deed, nothing was ever split or sold but it's always had the same square footage 225x450x195x450.. with or without the land it was a great deal and it went very smooth and I'd definitely use auction.com again.