I stands for inimitable and N stands for non-substitutable.

Nothing will substitute actually knowing the area, as the areas where most investors are looking these days in Oakland can vary greatly from one block to the next. 

Please know that we are NOT a listing site, title solution or a substitution to a manual due diligence done by a professional. some context..This platform was designed specifically to minimize the time I spent gathering and organizing  the relevant data for all the potential investment properties scheduled for auction and be able to quickly identify high risk, or "fatal" title issues that disqualified a property from investing.This brought change to an already complex process.

Those statements taken together are incoherent.Being transparent is not a substitute for complying with state law. 

Thanks to anybody who contributes their input, I know it's not a substitute for legal advice but specific info like this on OZs seems to be pretty hard to find.

when analyzing a deal, but its a poor substitute for the above. 4.)

(A recorded trustee's deed (or similar alternative) confirming the amount paid by the grantee to trustee may be substituted for a settlement statement if a settlement statement was not provided to the purchaser at time of sale.)The preliminary title search or report must confirm that there are no existing liens on the subject property.The sources of funds for the purchase transaction are documented (such as bank statements, personal loan documents, or a HELOC on another property).If the source of funds used to acquire the property was an unsecured loan or a loan secured by an asset other than the subject property (such as a HELOC secured by another property), the settlement statement for the refinance transaction must reflect that all cash-out proceeds be used to pay off or pay down, as applicable, the loan used to purchase the property.

I could sit around and read message boards and books all day, but there's no substitution for experience (which you can't get in rental property investing without risk). 

I went back and reread what I wrote and realized it came out wrong...just because of one word substitution. 

An estimate of market rent would most likely be substituted for your lease when determining the value of the for lending purposes.As for bakery equipment, I have no idea.