I think the most critical piece is preparing an accurate estimate.

I use a term I learned from a financial advisor from years ago: "Reaching Critical Mass".

Important to find someone good, as they will know how to handle critical pieces, like the hardship letter and budget, and MOST importantly, helping to get a low BPO by highlighting everything bad about the property and neighborhood to the BPO agent or appraiser.Of course, you'll need proof of funds or financing pre-approval to submit with your offer.

These 8 steps have been the most critical in growing our portfolio from 0-72 unit in four years.

They should also be working on getting critical tax documents out for tax time before they are needed.Any sophisticated investor will look at the property, the sponsors and the financing to determine if it meets their risk level.

Always, be skeptical, critical, and contrarian.

Bulldog Inspections is a fantastic inspection company and has been critical for our out of state buying process thus far. 

Just because you waive the inspection contingency, doesn't mean that you can't view the property critically. 

Add 2 or 3 drywall layers for best results.Read this test (look at test #5)http://www.mjm.qc.ca/publications/en/177881_Floor-CeilingAssemblies.pdfThe most critical mistake that people make is not leaving a 1/8" gap between the new ceiling and the wall.  

Any advice, criticism, and answers are much appreciated!