In most instances they aren't less costly but they do provide a solution for difficult installation challenges.

How extensive are your flips?

The reports are fairly extensive with pictures documenting various items. 

What you're in essence asking present and future readers of this thread is to trust your feedback as a guy who has ZERO experience with REI Reply OVER myself who has EXTENSIVE experience with REI Reply.

For instance, a three-bedroom, one-bathroom property listed at $1,450 has been available for 37 days (zip code 43205) or a two-bed, two-bathroom property listed at $1,900.

For instance, markets with low property values and expenses are often ideal for cash-flowing long-term rentals, especially in areas where many residents are unable to purchase homes.

If you are a licensed contractor for instance and capable of major remodeling projects as your trade, this would be considered adding value to the property and would risk IRS action.Sounds like "improving" or "upgrading" the place is not allowed.

When you can buy properties like this, you can get almost 100% of your money out of the property, convert the property into a long term rental loan, with a DSCR Loan (Debt Service Coverage Ratio) where we as the lender look at the property and if it cash flows, and that is expressed as a ratio, for instance if your Total Loan payment including Principal, Interest, Taxes and Insurance was $1000/mo, then you would need a rent of $1200/mo and you would have a 1.2 DSCR Ratio.Here is an example of a cheap duplex https://www.zillow.com/homedetails/732-Broad-St-Menasha-WI-5...

He has about 15 years of extensive experience in those fields and has been highly successful in each of them. 

And yes, I have spoken with the IRS extensively about this process.