After walking through the property (currently rented) there doesn't appear to be anything major to fix (at first glance).My question is- because I will be on the hook to pay for any needed repairs, is it worth getting a home inspection?

After looking closely at the numbers, it appears that you have $45/mo for MI, however you're putting down 20% so you won't be charged MI.

It will allow you to sit on (Cash equivalent) until yo find a deal.

You can also get a personal rep who can save you more on bulk orders, and help you order items that may appear out of stock.Amazon's store card will give you 5% cash back, or some great terms to finance your purchase if you want to delay payment, for amazon purchases.

Due diligence requires more than just the inspection.Otherwise things appear to be very much the same.

But I would just caution you to watch out for lawyers that appear to be merely in the business of selling high price/volume trusts.

So far it appears most  apartment  and condo buildings seem to be anti-short term rental, many listing this on there website, so the sandwich arbitrate strategy seems to be out.we are currently rehabbing an 11 unit building, but I am not against buying a distressed property and doing the rehab, but that will delay us to close to the summer months which I imagine are the busiest for STRs, at least in Pittsburgh.  

And make sure to account for the following expenses:1) Mortgage2) Mortgage insurance (PMI or MIP) or FHA Risk base3) Property Taxes4) City Taxes5) HOA (Home Owner’s Association) Dues and Fees and Assessments6) Insurance   a) Property Hazard Insurance (0.3-0.45%)   b) Flood Insurance   c) Earthquake Insurance   d) Umbrella Insurance7) Vacancy Rate (usually 8% - the equivalent to one month a year, or 5-6% if multifamily and/or if experienced, if not use 8%)8) Utilities (you’ll have these if your tenant is not covering them and/or during vacancy)   a) Water § Sewer § Garbage   b) Electricity   c) Natural Gas   d) Propane9) General Maintenance (usually 5%)   a) Upkeep § Landscaping   b) Snow removal   c) Repairs   d) New Appliances   e) Make ready10) Capital Expenditures (usually 5%, higher is the property is old and obsolete, less if fully rehabbed and all mechanicals and roof are new)11) Property Management (8%, even if you self manage, your time still has value and there might be a time when you'll want to be completely hands off or you'll not be able to do it, vacation, retirement, etc.), including...  

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(If there was a "trial" option - it's not appearing).