If it were vacant I would put around $10k into it right away to cure some issues (mainly cosmetic like flooring, paint, add dishwasher, refinish deck and maybe new tub.  

Make sure to listen to all the BP podcasts, read the articles on the main blog and be active in these forums to learn a ton very quickly about any topic in real estate you want to know more about.This is also a great place to meet people that can be assets to your business.

We also fix/flip @ 5 properties or so a year, but buy and hold is our main focus.  

What types of investing do you mainly do? 

For a first time rental property what are the main things I should be concerned with?

Mainly because how can ANYONE know that this property won't depreciate, leaving you holding the bag?!

All the info in the article is misleading and it doesn't address the main topic of ''wealth and happiness''.The true wealth consists of several items.

Where are all the wholesalers, mainly in the NYC area?  

When I get a qualified applicant, my main focus is on confirming employment and salary, checking references and talking to previous landlords.

Of course, it doesn't help with SEO, but it does generate leads, which should be your main goal.