For example, you may have suspended losses or some other circumstances that change the game.

You have to have skin in the game.   

Thatch Nguyen (for those familiar with him) really popularized this on the west coast in Seattle.Is anyone planning on getting into this game?

Not sure what state you intend to get licensed in to start, but before you get too far along I would check with the Real Estate Commission to confirm that your end-game (AI decisions only, no human broker in the loop) will pass their muster.

Maintenance and cap-x does not, in large part, have to be a mystery game of wait n see what happens.

When you get into development, particularly larger developments like major apartment complexes and/or subdivisions, the game is heavily focused on political connections.  

How much skin in the game is the borrower providing?

This property is going to be a money pit for a while, but long game will most likely show a profit or at least not a loss.  

The Real Estate Game by William Poorvu is one of my favorites. 

Thus it becomes a "location" question, is yours visible and accessible.These National companies are playing the Average of numbers game.