@Luke GrieshopFirst position is the first note and mortgage lein recorded against a property.Second Position is any subsequent note and mortgage lien recorded against a property that already has a first.Basically First and Second indicates superiority of the lien and who has first dibs when it comes to foreclosure. 

Not really.The key thing is you should do is search your heart and know you are really into it.  

They leave out key metrics, key information, and are obviously biased.

Luckily for me, my Dad lives nearby and checked on the property (he has a key).

They are very good guys that run the firm and truly believe in education and knowledge as the key to real estate. 

The second to last bullet on the above is why no one should ever get excited about FHA on a 3-4 unit property until it's 100% fully closed and you have your keys in-hand.

For instance you are not including anything for Vacancy even though you indicate it has a current vacancy. 

I forgot to ask that, but your post seemed to indicate it.

He would notify her of maintenance issues, meet tenants if she was late, give tours and had a master key for people who locked themselves out.

Your boots on the ground are key, along with talking with investors that can give you lots of info regarding the areas they are investing in.