From an actuarial standpoint, I would be completely shocked if there was any data to support a greater risk of claims based on the length of a tenant's lease.

Adding more closet space ideas and ensuring a large enough bathroom are key.

While we are very early in the process of investing in real estate I wanted to get some insight on the proper way to vet a contractor to ensure we dont get burned in the process.

It's a new construction so I have no data to estimate the expenses.

My wife and I own property in Lakewood and have had good luck finding well-qualified tenants. 2) Websites like Zillow and even Craigslist can be good sources for finding tenants, but if you choose to self-manage, you'll need to ensure you have a good system for screening tenants and following fairhousing. 

Whenever you are buying a property out of state you should do a few things to ensure it's as smooth as possible.Don't buy in the roughest neighborhood in the urban core.

Whenever you are buying a property out of state you should do a few things to ensure it's as smooth as possible.Don't buy in the roughest neighborhood in the urban core.

Two more are (1) ensuring that your LLC formed in another state is registered to do business in the state in which you're purchasing property (if required by state law or otherwise recommended by your lawyer; and (2) ensuring that you have the requisite ties to the state in which you form the LLC (requirements vary by state).

Of course, the estimate is only as good as the data being entered. 

What are you doing to ensure that you are financially capable of taking advantage of an opportunity that shows up out of the blue?