Seniors were able to fully enter into contracts with Bernie Madoff.The government and state department has taken it upon themselves to say "We have to protect the public" in real estate transactions and will have a board that will review it.

For example you will need to think about what sort of rent increases you will need to see, whether you want the tenant to have the ability to extend the lease, who bears the responsibility for repairing the HVAC system when it breaks, what happens if the property is condemned for a public use, what if your tenant decides to sublet or change his business model, what happens if you decide to sell.

Easy access to transportation or highways.

I look for the basics(tools, transportation, professionalism, working weekends, being on call, previous income etc)3.

Keep in mind they are pulling the info from public records.

So here is what you can do right away if you want to take action:Step 1: Find a great lender that has been in the business at least 7 years, and that knows down-payment resources.Step 2: Talk to your parents, family, church, etc to see if they would be able to help you with the down payment.Step 3: Find a Real Estate broker that owns properties, that has been in the business for at least 10 years full time ( you want someone that worked the market before it crashed, made it through the lean years and sells now).Step 4: Based on the amount you get pre-approved see what is the best neighborhood you can afford, and if possible to be walking distance to public transportation, or close to Universities, Hospitals, Factories, etc, anywhere you'll have a stream of potential tenants.Step 5: Let us know when you succeeded and keep asking questions!

You can also obtain comps from county public records. 

Psst, hey Kelly... shh, don't tell the other guy that commented prior to you, He really comes off a bit buffoonish and I'm a firm believer in equal rights for the LGBTQF community and would never do anything to hurt their feelings on a public forum such as this. 

Close to major workplaces, how close is the property to city transport?

Here's a publication you might find interesting too, and start you off.