Did you speak to the listing agent ?  

So far the "Look Local" mantra isn't speaking my language.

After speaking with some specialist securities attorneys we have our basic structure locked down.  

What else should I have in order before going to speak with someone?

@Gene Hacker, I was already interested in getting into home inspections to learn a bit more about analyzing a deal and estimating rehab costs, but since you do it and speak of all the benefits, it makes me want to do it more!  

I stopped by the speak to the neighbor and it turned into a very heated discussion with me leaving before things escalated.  

That said it may be wise to speak to an attorney about an LLC even for your first  flip. 

I can't speak for other companies, but last year our avg rent for the properties we sold was $1,060 a month.  

@Dave RichterII  look foward to speaking with you on your post

Now, I realize it goes well beyond rent, but I am just speaking from the perspective of maximizing your returns.