I dont let them apply unless they have physically seen the property, no sense in wasting time.

The properties would be managed by professional management and I wouldn't be doing any physical labor on the deals. 

I've never understood why anyone would want to bother with physical checks in this day and age.

If you are afraid of physical harm, get a restraining order. 

@Greg Atwood Have you physically put eyes on it and seen the neighborhood surrounding as well?

Some say that it is just a formula used to calculate depreciation, it has nothing to do with the actual physical life predicted of the house.  

Have been researching Western Lending as mentioned above, however the flip side of this [that also scares me] is that I may verry well be buying the exact same problem if I was to go to sell them some day and then not be able to.

But we have a need to address not only physical needs, but psychological needs as well.

@Dustin Dummer Issues: 1) Is she sick physically and moving into assisted living?

Everyone  knows about physical vacancy, but many new landlords forget to consider the more insidious problem of "economic vacancy".