Depending on how strong your contract is, you could potentially take legal action against them for breach of contract if they sign with someone else and/or back out, but that is costly and takes a lot of time.

I'm not sure if the best practice for that is to just have a partner go visit, to build a really strong and trustworthy team, or if it's just crazy altogether.  

Still strong numbers (in the mid 20%!)

I do not have strong knowledge on these subjects, and was never taught about them from family, or school.

We offered above asking price with strong earnest money on the same day it hit the market.

.#3 Contact Local Contractors for Labor Pricing / Hire a GC to ConsultCall local Subcontractors and get budget pricing for common repairs on your typical rehab project.For example, call a roofer and ask what their average cost per Square of Architectural Asphalt Shingle Roofing would be on a 1,500 sf house, with a 6/12 pitch.Note: Some contractors will be reluctant to share pricing without seeing the property, but tell them you are just looking for a rough budget number you can use on future projects.You can also pay a General Contractor a consulting fee of a couple of hundred dollars (per house) to walkthrough a few properties with you and provide a detailed estimate of prices that you can use as your 'menu for future projects.#4 Compile Your Prices into a Spreadsheet or Estimating SoftwareOnce you start to get a better understanding of Labor and Material costs you will want to store this data into a spreadsheet or software that you can use to help you streamline the estimating process.The Book on Estimating Rehab Costs comes with a spreadsheet that you can use to help you populate your own database of labor pricing and material pricing.

The following applies to the three major tenant pools in Las Vegas, but I suspect it may be similar in other areas.In my demographic research, I found that tenant stay strongly correlates with monthly rent, as shown below.Comments on the three tenant pool segments:Transient - This tenant pool is primarily low-skilled hourly workers making little more than minimum wage.

I would strongly discourage you from closing on the unit before reviewing the records/financials.  

My two short-term objectives are: Scale up my portfolio by accumulating a bunch of BRRRR deals in more affordable markets by relying on a strong boots on the ground team.

In the process, I hope I can add value, create strong relationships with many of you and, in a not so distant future, be able to give back to other who come after me in a similar position to the one I am current at in this journey.