If it's your first time trying it, or if your contractor isn't familiar with them, do yourself a favor and keep some of the old cabinets and drawers from the rehab so you can practice first.Drawers:https://www.amazon.com/d/Cabinet-Drawer-Slides/Rok-Hardware-Drawers-Adapter-Retrofit/B00JJYIVHMCabinets:https://www.amazon.com/Silentia-Soft-Close-Hinges-Frame-Overlay/dp/B001N33136

@Andrew Junquet It is definitely best practice to have everything in writing. 

. $275 is more than reasonable fee for the package of documents that you have to review before purchasing and it's standard practice.

Anything left in the unit is considered abandoned and can be put in the trashThere any number of lawyers whose entire practice (just kidding) is evicting tenants across multiple municipalities so let us know where the property is and I'm sure we can dig up a referral if you need one.Oren

It's common practice for sponsors to use a 10 basis point increase per year in the exit cap rate from the market cap rates at the time of acquisition (i.e. +50 bps after five years, +100 bps after ten years, etc. as in your text above). 

Flood owner's insurance is practically  a business in itself, there is a great video by Jon Oliver on last week tonight detailing how this works, I highly recommend it. 

Also, for me, the calculators are extremely useful not only for finding out if a property will work but also just practice.

If you want a practical translation I would say buy a quality property in a quality neighborhood you know and feel comfortable with and you will do good, both on CF and appreciation.

I just always like to see monthly expense numbers so I can always be practicing running the numbers myself like I did with your financing numbers!

Again, I don't intend to be a nay-sayer; I'm just new to this and don't see practical, repeatable, consistent ways to find 20% discounts on properties -- please fill me in!