I'm looking to build my power team.

AND you must maintain adequate reserves to take care of the disasters that may happen.I agree with all the advice you've been given in this thread, and its a very powerful group of people who have advised you here.

@Royce Talbo, et al,Remember to take into account the time value of money.Inflation means costs go up while the purchasing power of each dollar goes down.You also mentioned (medical) insurance.

There was about 5K of work that needed to be done. ( I was just instructed to send money, never really got a quote of what that money was for, but the general list did not include any major renovations, just things like painting, some electrical work, cleaning up, etc)  It is now almost two months later, and I don't believe they have even begun showing it to tenants!

Other than that the siding and deck needs to be cleaned (surface dirt), maybe some fresh paint and it's ready for renters to occupy.

Multiple Offers above asking price are quite common, especially for clean, move in ready homes located in good school districts. 

Also how far away is power?

The roads of the world are paved with good intentions and the reality is that money is a powerful motivator.

In there, you will learn how I bought a property no money down (using a powerful strategy called "subject to") and made over $30,000 profit on a house I sold rent to own.

Additionally, if the landlord voided the lease agreement , the landlord  should return the deposit as "void" means the agreement essentially never happenedUsing a TAR Application deposit form makes it a clean