I'd say that the amount of units and general size of the property will determine the scope of dillegence required. 

Keep in mind that it is *their* appraiser that will determine the value of the property.

I would like to sign a contract with some handymen so they will pay to rehab (they can use whatever material they want in whatever way they want to do), and after the fix, they will be responsible for looking for the tenants, managing the property and paying for utilities and taxes.

(We signed a joint venture agreement and recorded a deed for the repair funds in case deal went south.

It's a warning sign right out the gate if someone can start a job immediately.

Totally agree.When signing the lease with the tenant, I only give them one choice - deposit it directly in my Wells Fargo account.

The landlord should determine how much the fines may be and deduct enough from the tenants deposit to cover those fines. 

Do you enthusiastically sign up to stay in places where you have no clue if your wife can plug in her hair dryer next to the vanity?

Not sure if some of these HAVE to be the first home you've ever purchased, but a good mortgage broker would be able to assist you in determining the best way to approach the situation.Selling and then buying the 2-4 unit may open up the very best financing available to you, but it could also make for the most headache.Either way, good luck as you work toward your next steps of the journey!

That depends on your arrangement or signed contract.