A BP article recommended that a good cap rate is one of the two strongest predictors of a good deal (that and ROI) and should be thoroughly researched.  

Great Article by JJ PawlowskiWhen Applying For A Hard Money Loan, Keep Your LTVs As Low As Reasonably Possible.

You can set up a Maryland LLC online it's quicker and if you pay the expedition fee you can get the articles of organization in a day or so.

Check out the Blog I wrote that details some of the steps to take if you're looking to find and operate a successful rental. http://www.hawaiilife.com/articles/2014/09/vacation-rental-ownership-tips/

The mistake I made was not doing enough research on a person I chose to work with because I had been told by a BP article writer/podcast interviewee that this person was a good guy when I emailed him for a recommendation. 

If you want me to send you the articles let me know or just check out my Facebook page where I post all the local real estate news that affects local investors.

This morning I read an article posted on MSN.com regarding whether or not Detroit will receive a government bailout to help improve the diminished economy of the Motor City.  

Since the location on your posts indicates you might be from out of town/state, here's a very recent article that goes into some detail on the current redevelopment plans, and timeline, for the movie theater near the property you're looking at: http://www.c-ville.com/new-owner-says-downtown-regal-to-reopen-as-dine-in-movie-theater-next-fall/#.VGjO38lWmngUp until the Stonefield development opened almost exactly two years ago (late 2012) with more screens, stadium seating and IMAX, the Regal downtown mall theater was pretty much the spot in the greater Charlottesville area for the dinner-and-a-movie crowd. 

A Google search will produce a plethora of articles talking about this very thing.

Hey Patrick, welcome to BP.This is a great place to learn a ton of stuff and to meet great people from all around.Read all the article and listen to the podcasts and you will learn a lot fast.