I'm a contractor by trade and I got hooked up with a bank doing Hazard claims work for them. 

@Monique Rene Coates if you're based out of Providence I regularly meet new investors for coffee at various locations around the city and would be happy to meet you sometime at a place which is convenient for you.I've met a number of folks from here on BP and the investor group Frank mentioned, and from what I can tell people seem to find it helpful or at least enjoyable :)(And I'll be happy to buy)

(tired landlords)Stay in constant contact with a bunch of real estate agents, ask them if they have any pocket listings and remind them regularly what you're looking for.

I fund below-market deals in Austin regularly.  

If she is not current on her rent, send a 3 day notice to terminate via certified and regular mail and file eviction if she does not become current. 

It's those maniacs that buy homes cash via quit claim deed off of craigslist that really get screwed.Make sure your property manager is a licensed real estate brokerage.Understand you can not eliminate all risk, only mitigate it.

I operated at a small loss for years but when you add depreciation I'm sitting on 35k of deferred losses on paper (my W2 income was too high to claim the losses).

Bottom line, does there actually need to be equity to be able to claim equitable interest?

You will be claiming depreciation as a write off (about 3% of your basis in the house per year) while it is rented, and will have to claim that deducted depreciation back as income when you sell though.

Insurance is insurance, they all giver you a hard time if there is ever a claim made.