Know the elevation, the possibility of a LOMA exemption (flood insurance requirement exemption), the assumability of the seller's flood policy etc.

Your insurance policy will likely have wording that requires you to disclose anything that would materially affect the likelihood of a loss and knob and tube wiring would probably qualify.

You don’t want to find a great deal, perhaps requiring a short timeframe to close, and have to scramble to find money.

They want a local contact for the property which really benefits them not at all and since the role isn't clearly defined they don't require the property manager of record to be a real estate licensee even though to be a property manager within PA requires a license. 

If you are going to most basic route, a rental loan will require roughly 25% down (most lenders won't go below 75k-100k loan amounts).

First, understand that the US Government says there are 16,000,000 vacant properties across the USA.There are websites that provide the addresses and contact information for those properties. This information is not n...

What's changed is the bar of required professionalism has raised, significantly. 

After doing some research, I realized that some states require a license in order to be a property manager.

We have a B-D (who was introduced to us through a RIA).If you are doing the Regulation A+ the B-D will mostly require a FINRA approved platform for raising capital.

STR's can generate a great return but require the most effort. $600k is a lot of money.