He did mention that the fraudulent short sale flips usually involve someone related to the Realtor as well.

So, be sure there's a market.Assuming its a good price relative to other properties, and that you can get it rented, it sounds like a great deal.

Occasional maintenance-related issuedRe: #1, I recommend using yelp.com to find highly rated cleaners in the area.

Great point on setting objectIve service level expectations.

There are a few coming up that are relatively local for you.

As it relates to exit during a potential downturn, where are you predicting interest rates to be which then directly affects your cash flow forecast? 

Before the numbers discussion comes up with the seller, I'm curious how to proceed in relation to my agent.

@Justin Worsham I would reserve a pre-inspection for higher-end SFR's but it's all relative...one bad thing about pre-inspected properties is that it removes the buyer from the due diligence...they basically have to trust a report the seller is providing...it's just not impartial.

@Luis C Ceniceros LTV is relative...based on your equity position, strength of the asset, the economy, and your personal financial makeup...DTI- credit score.

There are investor relations platforms that perform some of those functions as well, but they cost many thousands per year (we use one of them) but that is more than you need at this point.