But I would like to be financially free in ten years.

My real estate objectives were diversification from financial investments and cash flow.  

when I look at a property I determine the monthly cashflow I want then take into account all the expenses and make an offer that will acheive that monthly cash flow. its a financial decision dont let your emotions get in the way.

Depends on your goals and current financial situation.

He recently renovated the upstairs of a SFH and it is one of those situations where you really have to be mindful of the financial undertaking of a major renovation. 

Keep in mind the co-signer's income should be enough to afford their own financial obligations AND the rent for your rental.

I am a flipper who is also interested in building a rental portfolio to gain financial independence.

What is your financial exposure? 

Typically, the documents included are: Annual Financials, Articles of Incorporation, Budget, Bylaws, CC&Rs, Insurance Declaration Page, Regular Meeting Minutes, Resale Certificate/Demand, Reserve Report, Rules and Regulations.

I know the right tenant is key, and this being my 6th house I am completely fine and financially safe on sitting for an extra month to get the right person in there. and not just fill the spot.