Bonus question: Is it best practice to offer at the asking price, even if you discover issues with the property?

Starting RE investing in an area you know best is always an advantage than trying to invest in a state you've never been and bonus points if you learn that market and know what to expect from the investments.

So I guess anything during the offseason would be considered a bonus in this market.

(Sometimes depend on the market, I even throw in some bonus such as if they sign a lease renewal before end of the week we can get them some rent credit for the upcoming month, if the market is hot then I won't say anything) 

The bonus is if the price of the house goes up over time and you also make money from appreciation when you sell.If you hire a PM, you will bring in less money; however, you will have more time to be with your family. 

Can't use bonus depreciation but could use accelerated depreciation and get most (not all) of my rental income tax free.

The bonus here is you can write off the milage (if you deduct by the mileage method) for your travel to pick up your mail.

Your 4th bedroom is a plus but the 3rd bath is the real bonus.

Equity is a bonus. 

Full disclosure I am a paying client (and a VERY happy one) and get a bonus when new agents sign on after I recruit them.