However it is an investment that may require you to be more hands on to insure the decisions made affect your return in a positive way .  

If you don't have 20%, you'd pay  private mortgage insurance. 

Hi BP,Can anyone recommend please recommend a licensed, insured, bonded roofer in the Rochester NY area? 

Taxes, insurance, maintenance, vacancy, reserve fund?

Assuming your close to $200k contract price your ROI after taxes (2900), insurance (1000), vacancy (1 month), management (20% gross), and turnover expense (~1000) is going to be less than 4%.

The Title Company is issuing title insurance and they can't in good faith issue a warranty deed and the insurance without verifying this transfer.

-- Make sure a picture of the house is in the body of the letter and the top left of the envelope-- Ask if they want to sell their house-- Include your name and business info7)**When you get a response**-- Do a walkthrough inspection-- Find holding costs, rehab costs, insurance, and other fees (is there a never-ending list of fees?)

I hired a insured, licensed, bonded general contractor to remodel the bottom unit of our building. 

-- Make sure a picture of the house is in the body of the letter and the top left of the envelope-- Ask if they want to sell their house-- Include your name and business info7)**When you get a response**-- Do a walkthrough inspection-- Find holding costs, rehab costs, insurance, taxes, and other fees (is there a never-ending list of fees?)

How will you handle vacancy, what about insurance on the "new" property after reno?