For instance in certain cities in and around Cleveland OH  there is what is called POS .. and when properties change hands the municipality does an inspection and requires a large sometimes very large deposit from the buyer with a laundry list of things that must be addressed  ( although most of it U would normally do in a rehab.) but you have to put the money up AND you have to complete the work to get your deposit back.. so in essence you need enough cash to rehab twice.. :(   So implementing this in many markets will not be difficult. 

Run all the worse case scenarios in your head then find a decent real estate attorney to have your back when things get messy.

Just a heads up 

For instance , a cap rate of 8% may make me take a 2nd look but because that can be manipulated by deferring maintenance I know I need to dig deeper into the books and history.

Thanks for the heads up @Zeke Liston. 

I wanted to pop my head up for a sec, just to leave a quick note on something. 

For instance i had a townhouse up by the zoo.. mult co one side of the street I was in WA county.. and i KNow i saved on taxs

We are also not doing fellow landlords any favors going forward, many of us probably wish we had gotten a heads up from a credit report from a repeat offender however I worry tenants are being conditioned to cash for keys since it is simpler and often cheaper for us. 

I have read so many post my head is swimming.

So you would always want to use a bank or lender as you only pay 3-5% for that money, where as and investor is going to look for 12-20%.I have heard of instances of IRA syndications that will use a 100% equity to get out of paying for the UBIT taxes.