Figure out the cost of lost opportunity for the funds you will lose earning power on to put 20% down to avoid PMI and PMI is the best thing you can have.  

They are really well run and bring in fantastic rent, but I know I don't have the desire to manage myself, and being out of state, just don't want to deal with the hassle of hiring a property manager, maintenance person, etc. 

In the area I lived I just couldn't make the numbers work, nor did I have the time or experience to work a rehab or desire to be a landlord (I have managed property before & hated it).  

Southern Cal is generally considered over priced, but you can see that for me every $16,470 earns $100 in rent in CA, but I would have a $18,160 to $100 rent ratio on my primary residence in Vegas.Just my two cents, but there are other, more attractive markets out there.

But if someone pinned me down with a gun at this moment, I would say A property is high neighborhood, high desirability, B property is good quality working class neighborhoods, C property is lower middle class and fringe neighborhoods that are either just declining or are just coming back, D property is lower class property in undesirable areas but houses are still standing, and F is war zone material.

You will earn and learn.

I would also say keep the tenant in the house while selling it so at least the owner is earning something while he sells it.

I personally had no desire to wholesale.

And/or you make your realtor EARN HER COMMISSION and prepare rental CMA for you. 

, take property out of my name place in LLC, open separate bank account for rent checks to be deposited (although, I may just have the rent checks go directly into my betterment account so they can earn more interest) Of course after this step the process begins for renting the units (if they're already not leased ... a girl can hope right?)