It is usually not 'allowed' to make any contact with a borrower prior to your ownership of the mortgage.  

@David McEwanI would secure financing prior to shopping, however just ran into a deal where I was 'Preapproved" for financing, signed a contract & was sidelined due to a garage apartment & forced to seek cash from another source.

I wouldn't suggest making capital improvements prior to purchase, the only caveat being, minimal cost repairs.

I am curious how many units/properties you obtained prior to doing REI full time.

It just lasts a short while, nonetheless...nasty.We don't usually get inspections so we look for aluminum wiring; patched spots, fake vents etc around plumbing stacks to indicate prior termite treatments and ......what do you look for?

If so, they generally don't take offers prior to. 

I did, however, buy my first rental [and rehabbed it] here in Indianapolis while I still lived in Calgary, AB Canada with success - all due to the great property manager and team that I had assembled prior to the purchase.

The only reason I'm asking is because although the realtor is suppose to give me a 24hr notice prior to showing the condo, he is apologetic and has given me no more than a 30 minute notice.

That says if you have lived in a house for two of the five years prior to sale then you can exempt $250K for a single tax payer or $500 for a married couple from capital gains taxes.But even if you don't live there a year you may have little, if any, taxable gain. 

It would be worth the investment to have a mold remediation company & title search preformed prior to Making an offer..