So, what do you look for or what are some tell-tale signs to bypass a lead based on their actions or other observations ?

Seems like the prices are near the top and from what I observed (I honestly haven't researched it in depth), it seems like the renter's rights outweigh the owner's rights (just had a friend in San Diego take 6 months to evict a tenant who wouldn't pay the rent). 

From my observations and understanding talking to at least one resident there, the landlord doesn't fix anything.

I’m an agent in Portland focused on working with investors and in my observation 2-4 unit properties on the MLS are almost always overpriced on a cap rate basis.

You never know how what you say is going to be interpreted by outside observers.

Drive-by them and observe their curb appeal.

First observation is that the rent is very low, compared to what I am used to.

Two observations: the unit did not need painting; and they did not know how to paint and splattered all over the hardwood floors.Run it like a business.

Goes w/o saying, but to the outside observer, this seems like a somewhat dubious claim. 

With new things I'm typically a very hands-on learner, preferring an observe-replicate-innovate sort of model, so I'd love to start meeting investors and watching deals go down to see what's working in the Northwest Phoenix/Glendale-ish area where my wife and I own our home.I'm excited to start meeting people, continue learning, and hopefully pull the trigger on a deal in the next few months!