Hey @Chris Reid,How I became a professional fiduciary, I began working ten years ago for a firm where we do court appointed services; guardianship, probates and trusts.  

The owner declined negotiating the inspection addendum and I have an out, but I think there is good long-term opportunity here according to my calcs - good cash flow + appreciation + stable rental market.To sum it up, my question is: in your opinion(s), when is it acceptable to purchase an investment property in a hot rental market at asking (or above). what would you compromise on with initial up-front cost (i.e. no rehab, appreciation prospects, etc.)?

I've realized that is what I am, a Manager first, but also an investor as a close second, so our firm is now naturally tailored to help investors. 

call Charles Santoli at Nacca Law firm.  

I have a law firm I can recommend, with which I have no affiliation, that specializes in real estate, tax, and asset protection law.

The prospective tenants always remark about how much nicer the garage looks than the other rentals in the area.

I firmly believe that the best deals are those where both parties are happy and that is my goal.

I am successfully able to get email addresses from a lot of potential prospects but I have nothing to send them.

In the beginning especially, remember to always do a math analysis and try to look at your prospective properties or at lease have a clause in the repurchase contract that allows you some upfront time (about 10 to 15 days) to make a detailed inspection and possibly back out of the deal without a penalty that hurts you too much.Do not try to do everything yourself.  

@Michelle Humphrey - As a landlord, I always tell prospective tenants that they should attach a latest copy of the credit report to the application.