I don't believe your credit score or cash on hand is critical - although HML will want to see that you have some skin in the game - if you had a high credit score and a bank roll, you wouldn't need the services of a HML.

We order all sorts of stuff from them. 

I prefer the latter.I would like to do a rehab of some sort for my next property. 

If I am financing I like to get rents double my mortgage I might take a little less then double but overall that is what I look at.My last rental I bought for $39,900 and I have a 30 year on it, my mortgage including taxes and insurance is $385 and I rented it out for $695 and there are deals like that all over the place I don't even have to look hard to find a deal like this.It needed less then $2000 in work also BTW.I don't know if there is enough skin on the bones but I would do just about any cash flowing deal to get your feet wet that is the hardest part for most investors.

What sort of questions are important to ask?

I've seen that Surplus Warehouse had similar sorts of slabs, but not a lot of variety.

I suspect census.gov has some data that would help sort markets with high rents and low values but have not found it.

VCU-MCV (Medical Campus of Virginia) and overall health industry is booming and bringing all sorts of new jobs and grad-students.

@Matthew Do you have to put the initial funds up for the construction companies or do you they take some sort of a deposit?

Fore example, do any of you maintain income/cashflow statements for the properties, or do any sort of financial performance analysis after it is purchased?