Hail coverage is unfortunately getting really expensive (like $5000 deductible).As for vacancies, call around to multiple PM companies and ask about economic vacancy, not just physical vacancy.

Think of "driving for dollars"—that is, physically searching communities for foreclosed or distressed properties.

So, given that you are a general contractor and master electrician, the obvious strategies that come to mind involve physical rehabs of a property.

Absolutely make use of all the online tools available throughout the processEvaluate resumes and reviews/recommendations from trusted resouces, peers and past clients (like you would on LinkedIn for example)Narrow down your search to the top candidates and schedule in-person interviewsChoose your top 3-4 final candidates and check referencesThen ask at least three to provide bids for your scope of work requiredEvaluate the bids and pick your top candidate...then there is one crucial step left...Make sure to take an in person look at the physical finished work your final chosen contractor has done recently.Like almost everything else in real estate, choosing a great contractor requires time and effort.  

But it is just physically to far away from my base of operations for my current business style. 

Money spent on physical infrastructure outside of improvements for educational purposes does not receive any tax advantage.  

I would guess I physically inspect 5-10 properties for every one I make an offer on and I may only get under contract on 25-33% of those because I typically offer aggressively so my numbers work.

When you work six days and take the seventh off, your physical, spiritual, emotional, mental and even your financial health will greatly improve – and so will your success rate.

Then use your due diligence period to dig into the operating data and physical condition of the building to make your final decision.From what you posted, it sounds like it could be a winner.Good luck.

@Atwan Kwan Did you physically inspect the property and verify that there was only one cat?