Check everything out thoroughly before you commit, and have a sizable chunk of money available just in case people start losing their livelyhood and can't pay rent. 

To me the greatest risk is not screening potential tenants thoroughly enough.

Good Morning @Nathan Broekhuizen,Those are great areas that I thoroughly enjoy working and investing in.

One thing to consider if utilizing a PM company to place a tenant for you is that if they will not be managing the tenant there is a lot less incentive for them to thoroughly screen and be very selective in who they place.

If you think of the time it takes them to drive to the property, thoroughly inspect, take pictures and then write an estimate, they could have 3-4 hours into it.

Whatever you do, screen your tenants thoroughly.

The combined growth allows for this approach to make up for the fees inherent in a life insurance policy.This topic has been thoroughly discussed in many threads here on BP.

I agree that it certainly helps to pay extra upfront for a thorough and well designed architectural plan. 

Just please, please, please screen thoroughly and of course go with the gut.

My suggestion would be to at least get the home thoroughly inspected to determine what has not been done to code.