As I said, this will be my first rehab investment and I welcome any warnings, concerns, ideas, criticism, etc.

Our main concern here is termites and an occasional visit by the Thermidor alleviates that problem.

I will have all inspections done, of course, but a concern is the electrical.

I don't know the details or how legitimate a concern it is, but I would look into it if I were planning an after-purchase title transfer.

Well vacman, IMO that's the difference between a noobie and someone (like me) with a fair amount of gray hair, much of it caused by REI.

What kinds of things should I be concerned about with a Limited or Special Warranty Deed?

Large scale investors (to the magnitude you speak of) are faced with the same issues you have mentioned (dings to personal DTI and credit report/scores, etc.) and often turn to private funding to avoid these concerns.

21.In the event any action, suit or preceding is instituted to enforce any provision contained herein, or to recover possession of the premises, or to cause payment of any sums due hereunder, Tenant(s) agrees to pay all costs, expenses, collection and attorney's fee, as additional rent, either expected or incurred by Owner/Manager to the extent permitted by the Washington Residential Landlord –Tenant act.

It was about time, cause I was running ragged and maybe I can even clean my own house now which has been severely neglected for the past few weeks.

I am always concerned when I hear someone saying I just want to break even on my rentals.