Just make sure you do very deep due diligence on the property.Make sure it's not land locked, that it's zoned as residential or commercial and not agricultural or greenbelt.

It might be worth attempting a buyout with the tenant (also has its own ordinance and set of rules to follow), and gives you much more flexibility/doesn't lock you into living in the unit for 3 years.

I just locked on to this score last week.

Here is a short list of unexpected costs that can reduce CF, or easily eliminate it altogether for years especially if the margins are thin and the property only kicks off a few hundred/mo (all of these are actual issues I've dealt with in the past few years that effected CF):  Annual Backflow Prevention Assembly Tests/Code changes requiring additional backflow prevention devices“Churn”: high vacancy and turnover rate/ tenant drama/ evictions/ turnover expensesBad PMBad tenantsHOA fee increases/special assessments (condo/townhomes especially but also MF/commercial complexes)Trash hauling/property cleanup—ghetto properties are trash magnetsCrimeTheftTenant DeathMileageToolsTenant placement: screening charges, advertising, professional photos, travel, 3D tours, etc.Property tax increase based on sales price you just paidInsurance rate increase based on a claim you made or a high number of claims in the area Trees-- maintaining trees costs more money than many people realizeAnnual Sewer ScopeAttorney feesTravel costsPest Control—We recently had the unexpected pleasure of evicting some bed bugs from a newly acquired 8 unit building.

You won't lock up a deal if you can't prove you can close it.

The idea is to leave the decision for the rate and terms to the borrower and then lock the rate. 

So, I would inspect the wiring and system to verify the presence of the ground first.Many older homes with 2-prong receptacle devices are indeed grounded systems.

They locked my rates at 2.25%.

Im not sure how one cursory phone call makes me locked into their investor pool for life on all future deals from that sponsor.     

All bedrooms had locks added to them.I believe the company uses a commercial lease, so if someone does go with that company, be sure you know what permissions to use the property are being signed away with the space that you rent out.