@Dan StrandbergUnless the process is different there, the inspection should include identifying the type of septic tank and drain field/system; evacuation; checking for cracks/roots/deterioration; type of material tank is made of; if it’s level; size of the tank- is it large enough for the number of bedrooms; whether it closes properly; whether water run through it drains properly; that the ‘hatch’ closes properly; setbacks from the home/boundary etc; and whether both septic and drainage meet any existing regulations.Hope this helps!

There is not a huge draw to Columbus, GA for short term rentals that commands high nightly rates.

Usually accountants or special consultants who are experts in real estate taxation know how to do this properly.

I sleep very well at night being debt free

Additionally, it is one of few systems that run 24 hours so it is also a fantastic option for enjoying Philadelphia restaurants and night life. 

What keeps you up at night is generally "risk."

Feel free to ask any questions I will be on here all night to answer them.

I don't have experience in the Detroit market, but I assume there are plenty of properties available that look great on paper but are going to be a real challenge to manage properly, especially from across the country.

@Grant Steiner - If you're planning to rent it for a year or two before moving and getting your own residence the most important things will be making sure you have signed leases and that you are properly reporting everything on your taxes.

Do everything by the book, and in the case when you are faced with a lawsuit, use a good liability policy as a first line of defense, and your LLC that you have properly structured and documented  as the second.