I can't belive that many of you find this to be an ok practice.

Good Afternoon Everyone,Just starting out here in Pittsburgh practicing running deals.

The learning curve of screening, leases, mgmt practices, move-out, law learning, being handy, etc? 

There's a good book on managing rentals in the BP bookstore, or I recommend "Every Landlord's Legal Guide" by NOLO because it includes tons of practical advice but it also directs you right to your state laws.

Even if you're not ready to make offers or close, get practice evalutating deals so that when you're ready you know exactly what you're looking for and are ready to roll.

Practice makes perfect!

Be consistent in your letters, potentially expect 8-12 letters (spread 3-4 weeks apart perhaps) to each property owner before you get a response!

It can and does work anywhere just know consistent cash flow to pay for the mortgage is harder to get as you go from lower income to slums (not that low income is always walk in the park either). 

I understand depreciation reduces my tax burden against any income generated from the property, but I won't have any income generated, so what's the bottom line practical application of depreciation for me in this scenario?   

Requiring a copy of the lease is standard practice for lending on investment properties, assuming someone is already renting it.