Not All Fun And Games....Now I don't want to minimize it, or make light of it.  

@Chris Newman:) I wasn't minimizing the possible contamination (okay, I was...) because the truth is that it's fairly irrelevant for people doing day to day things.  

Minimally, I would request all deposits + proration of rents already paid.

I don't mind spending a little time talking to people and trying to assist them with their transaction whether I can be a part of it or not, but I would like to minimize the time I spend visiting properties if I can rule them out by asking the right questions.

Also 35% expense ratio could be legit if the building is in great shape in a high rent area, but for a long term hold including CapEx, you might want to double check those expense numbers.For multifamily, even in good blue chip areas, I personally look for a minimum of 7% combined annualized return since I get that with minimal risk today.

The reason that the house was shown "open-house" style is, ostensibly, to minimize the impact to the existing tenants. 

I'm in Ontario.I'm not incorporated.I see 2 main potential benefits to incorporating (I'm sure my accountant knows more): 1) tax advantages and,2) limited legal liability.LEGAL LIABILITYI prefer to minimize risk through insurance instead - mine and tenant's.I've only been investing full-time for one year so I'm not perfect.  

Maintain high productivity with minimal supervision and achieve deadlines without being micro-managed.

I am leaning heavily towards buy and hold, and my mother has already discussed with the tenants that I will be buying the house with no interruption to them.Does anyone have a target cashflow for properties before investing in them, or is it pretty much situational dependent.

@Daria B. the costs were minimal, under $500 including changing the locks which I would have done regardless.