One of my biggest producers had no internet.

They too have incentives to get you deals on properties and write you up a loan that meets your needs (i.e. first time home buyer loans).

Biggest downfall of this property is that it is in the flood zone!

If you have no landlord experience, a MF investment-only can be a lot to take on and understand on the fly and the biggest mistake is usually either bad choice of tenants or lack of reserves.

I usually try to figure out what the biggest ticket items are.

Install the BIGGEST sign you can on the property for now.

But the reserves is the biggest thing because anytime there is turnover money is going to be spent and less money is going to be coming in.

I didn’t read where the two of you have ever had a run in or even a conversation with each other.Ultimately though, it sounds like the biggest thing working against you in this scenario is that you are on a month-to-month agreement, which means you could have moved out at any time with proper notice if you felt so unsafe.

For me the biggest one, and the one that kept my wife and I from selling my business for years to go full-time into real estate, was making sure we didn't chase deals with more risk than we normally would have. 

Closing costs are your biggest expenses.