He lives across the street from 2 of my properties in FL.

It is a frightening experience but if you have the right team in place you'll be confident in the property you chose to close with and it will go smoothly.

We use Hiscox for our insurance with our business, not sure if it works for property but its worth a try. 

Ability to find properties off market6.

Discount Property Wholesalers, Real Property Network, and Coast 2 Coast House Buyers just to name a few.They can be a reliable source for off-market deals here in the Portland Oregon market.

I would make improvements to the property only when doing so would cost less than the value added to the property.

Inheriting it is the best option tax wise- because it gives you a step up in basis to the property's value on that date. 

Held for 1 year, completed updates, the property appraised enough to justify sale.

- Property Managers that you would highly recommend? 

Warning:If you depreciate a property down near zero and then have to sell your property at a loss during a situation of distress...You could end up giving all the proceeds to the bank AND owe the IRS a big chunk of money for recapture.Long-term tax planning with real estate needs to be coupled with risk management and making sure you don't lose any properties.