I've started to lurk in the forums recently and its been pretty educational. 

The bank actually has branches pretty close to my properties.  

well you are about to launch into a financial deal with someone for usually hundreds of thousands and most wont' ask for any of this.. and just take whatever the person presents as fact.So I would if I was looking for a new partner ( and most of mine are a decade or longer so pretty good track record but we all have to start somewhere)  I think you want those basic items.In my day of HML when I used to lend to the general public and do 200 to 300 loans a year it was amazing what you turned up.when we set out to put our network together it was also amazing what you found out about ground partners.. 

Prices are pretty high, but still rising. 

I'm pretty new to it myself, still figuring out how it works, which part of it I want to be involved with...I know one suggestion I hear a lot about is going to Real Estate Investment meetings/ Associations.

Just talk with a title company and it is a pretty easy process and fairly inexpensive.

I have been reading about some places such as detroit, Tennessee, palm beach, denver etc which seem to be pretty high in the list of places to invest for short term rentals. 

I work full time for the Postal Service, so I am very familiar with the town and know pretty much where all the vacant & "for rent" houses are.

That would net you $30K+ and be pretty close to what you think you could net with the rehab. 

If I renovate it and rent it out for 700-1000, there would be some pretty steady cashflow. it would take probably 3 years to make back what I did in renovation.