That is not necessarily the case in this instance but something to think about, also be aware of "service animals" as in most jurisdictions regardless of your no pet policy you must accept them.

The market in our area is very good right now, which must be why Jim is pushing his nephew to flip it.Thanks so much for any advice!

Im a newbie to real estate and was actually looking into doing the visits myself for out of state investors and wanted some information on the competition and how much I should charge.

The entire structure must be IRS-compliant, trying to save a few hundred dollars and getting your IRA disqualified as a result would be unwise move. 

And yes, as @Mike Laurenzi suggested, come visit the PIG, local REIA, led by @Matt Robinson.

That suggests to me that the Section 8 inspectors must find a violation(or three) to justify their jobs. 

In July I am going to visit the US for the first time in order to get to know the market (and relax a bit on the beaches of Florida).

Folks who tend toward absolute returns  have looked at their 'why' for investing and compared that to their available capital and investing options to set a hurdle rate that every investment must meet.

As I always stress in these sort of posts, if you're considering an out-of-state purchase, visit the area, and  always have inspections done.Also, since Jerry isn't licensed, he's either working with someone else for property management after the sale, or he expects you to find your own. 

@Daniel Walters how often do you visit Dayton?