Well, I don't let my tenants do work on my properties so I need to adjust those numbers.If I find the seller is completely lying to me and not making 'honest mistakes' which is often the case with older sellers who aren't so involved in their properties any longer, I tend to walk away because I figure there are other issues that they won't disclose as well.

The biggest flaw in my thinking that I struggle daily to change is the result of the intense training that schools gave us to trade time for money or, in other words, be an employee who makes money for other people. 

They will send you an escrow analysis once a year to show you how they are handling your money and will adjust the escrow payment for any increase or decrease if it goes over their allowed limit or if you're not paying enough to cover your insurance and taxes.   

Many times towns will adjust assessed values upward but then adjust the mill rate downward, for a tax bill that only changes slightly.So the question is, do you know if West Warwick has done that?

Before anything I would make one adjustment, which is to live in your first property for two years instead of one: this way you qualify for the capital gain exclusion on primary residence for the next 5 years.I grew up in Metrowest (essentially the areas you mentioned) and yea, it wont be easy.

I was researching strategies and attempting to formulate a solid way to diversify my future portfolio against market risk (and adjust to take advantage of opportunities).

An empty house can be more repair-intensive than an occupied one.

The adjuster from my insurance company suggested the units underneath me to file claims using THEIR insurance policies since they need to prove I am liable for the leakage (due to negligence). 

Then adjust my offer to make around 10-12% ROI. 

I am already seeing longer days on market and price adjustments through many cities in my target markets.