As far as property management is concerned that's something I'll take care of myself.

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.

Also, I know that due diligence is extremely important in finding a deal that will be profitable.

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.

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

ALWAYS assume you will have a 90% 30 year mortgage, just so you can compare apples-to-apples...and to that point:Taking the other extreme: Imagine that you have a house fully paid off, so that your only expenses are taxes, insurance, repairs, and property management.