What are some potential pit falls to avoid as I begin?

With the number of available properties being that low you could honestly analyze every one of them so the specific zip codes and areas aren't as important as if you were looking with criteria that offered hundreds of results.I'd recommend getting on the list for some local wholesalers to help and increase the number of potential properties that you are exposed to. 

I'd love to chat with potential investors to introduce the opportunities of investing out here.

I wanted to create a checklist of potential major problems to look out for when considering older properties (pre-1960 build), especially regarding deferred capital expenditures. 

I have a goal of getting into multi-family properties and I felt like this property had the perfect potential of getting me there, offering an unfinished basement to create a split level duplex.

For any reservation over 30 days you really need to have a state-specific lease in place to establish the lease terms and protect you from a potential squatter situation.

Looks like a solid property in a decent area - I would think that at first glance (just guessing) is that the 3 bedroom 1 bath is the problem - thats potentially a lot of people sharing just one bathroom - renters for 3BR homes are probably going to always go with more bathroom options

We learned fairly quickly that a home this age comes with a lot of liabilities, being badly insulated, more prone to animal infestations (palmetto bugs, bats, squirrels, etc).

Oh, and I guess c) I like to occasionally take my young son with me to check up on job sites so there is that too.Some good tips though, and I agree, sometimes it's worth just doing it yourself because of the turn around time and potential loss of rental revenue.

Do you happen to have bills with one unit empty (so that you could potentially look at usage of just one unit)?