The units were rented near market levels, but could be increased with minimal difficulty.

I start to look at different factors such as property tax rate, crime levels, rental rates, commute to work, whether the area is land lord friendly or renter friendly etc.

I am not sure how much money you have for a down payment or what type of loan you qualify for, but leaving cash in a deal isn't the end of the world if the numbers are right.The high level numbers look good.

@Trevor Stone You're exactly right, the my teammates and I spent together not only brought us closer but allowed us to perform at a higher level because we trusted each other. 

The type will depending on your entity setup, familiarity with accounting, interest level, etc.

@Gary Wildey There are numerous factors, and a huge one I would echo is what @Michael Dumler mentioned: if you don't have a team in ANY market (whether in market or OOS), it can add another level of difficult to your investment.  

It seems to me to be pretty risky for a newer investor, but I don't know your level of experience. 

Often porches above a certain height need balusters and rails and steps above a certain level need sturdy hand rails. 

.), try :STRATEGY: Start Up Guide to Short Term Rental Investing.This is a very intro level book with the background of how to get into Short Term Rentals. 

While I do ask questions about leins, ownership etc, I want to be able to have a high level of confidence that the property can actually close before I spend any money on inspections or appraisal etc and ensure that the closing duration is long enough for all this to properly happen.