I have a thought that's sort of along the same lines as far as looking for "hot" markets to buy whatever in, sure there may be certain ones that get "hotter" than others at times for a wide variety of possible reasons, but I'd also say that there will be a long list of markets that you will do just fine in, provided you handle your end of the rental business as well as you possibly can.

One you fine out WHO the owner is from county or state records, the hard part is locating them. 

However, similar to seller 1, wants to partner with someone to realize the benefits of rehabbing and flipping.I'm perfectly fine working with both sellers so we can both enjoy the benefits of a flip but that's generally not discussed here.  

We're in the middle of a rehab right now where the paneling is the actual wood and I couldn't believe it still looked spotty with four coats.For a basic, buy-and-hold rental the paint will be fine.

They're stuck with a vacant property paying taxes and fines (newly purchased ugly houses keep the attention of the local officials real easy) with no ROI...

I think we would be fine with a lower rent to under bid them.No school has not started, looks like last week of Aug, 1st week of Sept.Does it matter much on the school ratings?

You're fine with full disclosure as long as you dont get crazy with the profit.

That was my first thought when you mentioned the post-dated rent checks (though they could fine if they were just for convenience).

Sounds like you're fine otherwise.

Don't kid yourself and think that potential tenants will be fine with a tiny 3rd bedroom and pay just as much as another unit with 3 normal sized bedrooms.