Living in the home for a year helped us feel comfortable that there weren't any major maintenance or safety concerns.

Buy and hold or cut my losses.

Understand A/B/C class neighborhoods and what we want to invest inCheck safety/crime, schools, Check population driversCheck population growthCheck income growthCheck if the state is landlord friendly or tenant friendlyCheck regulations within each stateCheck if the properties fit the 1% rule and run analysis on numbersNarrow to 2-3 markets.

The biggest problem with buying at the top or over the top of the market is that there is no safety net if things turn downward.

It's knowing where to look and having someone work with you that knows what the hell they're doing that will help you cut through the big data and make sense of under-valued acquisitions, of which, there are plenty. 

They can literally cut it up.

The second picture is a cross section of the 2" vertical stack I cut out.

I don't want to cut corners.

However, I don't believe the Property Tax deductions (Point 2.) on a Rental is restricted by the 2018 Tax Cuts and Jobs Act (TCJA).Specifically Section 212 says:In the case of an individual, there shall be allowed as a deduction all the ordinary and necessary expenses paid or incurred during the taxable year:(1) for the production or collection of income;(2) for the management, conservation, or maintenance of property held for the production of income; or(3) in connection with the determination, collection, or refund of any tax.

That would be a pretty bold move by the sellers (cutting the freon, electrcial, loading it up)  but anything is possible.