Another thing you should learn is personality types and how to spot them.  

I have a similar property for about the same price (Includes Two Parking Spots) but the HOA fee is $702 / Month (CAM, Exterior Building Maintenance, Heat, Lawn Care, Management, Master Insurance Policy, Reserve Funds, Sewer, Snow Removal, Trash Removal, Water) - Is this HOA fee too expensive even though it includes all those amenities? 

In addition, I think you would be prohibited from advertising the space as a bedroom unless there is an easily accessible fire exit from the bedroom itself (ie. large window with dry well that a person could crawl out or an exterior door). 

You'll still get the knuckleheads but they are easy to spot.  

If pipe is broken for a stretch its a replace,one small spot of roots might try the chem for a year and re look at it with camera. 

You ate spot on.  

Even if you don't close on any at first, this will get you really familiar with the market very quickly so you can spot a good deal when you find it.

Vacancy, Property management, repairs, maintenance, CapEx, non payment, taxes, insurance.Is this spot on for every house?

James is spot on.

Not long ago when I asked lenders what their sweet spot was many said owner occupied commercial.