Market is really hot and so I don't have anything to put it into right now and good properties go quickly with multiple offers in our area. 2.  

You most likely will have title costs, possibly attorney costs if in an attorney state, tax adjustments (costs or credits) water/heating fuel adjustments, some states have transfer fees, any lending costs if you have a loan, and I'm sure there are costs I'm missing.

When I went to do some measurements last week, I found a possum behind the water pipes behind the bath. 

Not sure how old the home is but you definitely want to check out the roof, electrical, water heater, heating and air conditioning and plumbing at the very least.

Usually I go before signing the contract even, but this was a hot deal in a hot market so I just signed based on my team’s evaluation.

I have an idea...and maybe a CPA or some other knowledgeable tax expert can help on this......so here's my idea:I want to start paying all our regular ongoing bills and utilities with money straight from the LLC rental income....cell phones (we use our phones for mostly work anyway), electric bill, internet, water, etc etc....I'm thinking of making a lease where my business rents the home office space from me and my wife, and the rent is roughly equal to the utility payments, or just have that on the lease..."

It has water and electricity.

The Columbus market has been crazy and I know a large number of OOS investors are testing the waters, so just make sure you are ready to move or you will find your calls go unreturned as A players don’t have the time.

I've read several other members' posts about living in hot markets, like San Francisco, and trying to invest out of state. 

Its really exciting because this enables us to get another water front property!