It is part art and part science.Many of our rental properties are almost identical down to the finishes and cabinets (and in the same suburbs of Milwaukee) and I get a 10% swing on appraisals - at least 5% in either direction.

They are people who have invested hundreds of thousands of dollars into buying units.

We have talked for hundreds of hours over that year’s time because some things take time to sink in for me.

It's often because people don't want to do the research or work necessary to get prepared to invest so they do things like talk about LLCs, scaling, and look online at hundreds of properties before ever seeing one in real life.The antidote is to go to real estate investing meetups, as many as you can, and never miss.

(full disclosure-I knew the guy, or know him, he's not dead just gone from the auctions and haven't talked to him in a few years, but he was always nice to me and I don't have a clue as to the validity of the federal charges against him, but he always treated me decently and I've got nothing bad to say about him and I know other landlords who've been demonized and slurred as slumlords when I think they simply bit off more than they can chew, while other real slumlords seem to operate for years, as long as they don't get too big) He used to kind of dominate those auctions and maybe that was a good thing, as I'm sure there's a whole cast of characters who've filed that void.Thing is, ANY property under $100k, maybe even under $150k or $200k will certainly have multiple bidders, there are a LOT of people like me when I'm looking, who have the subscription to the sheriff's sales info reports from the Daily Reporter ($600/year and you get the results emailed to you in an Excel spreadsheet on Tues, next weeks auctions emailed on Thurs) and another good indicator is I'm on an email list for one of the firms (actually out of Chicago) which handles a tiny, tiny fraction of the cases and I've looked at the "cc list" or whatever you'd call it if ALL the addresses that email is sent to and there are HUNDREDS of them on there and this is for I think Johnson Blumberg, who many weeks don't even have any cases in MKE or Waukesha Cty.

However, I see hundreds of properties listed on Airbnb that do not follow the rules. 

Ive used the cabinets before.

My house was built in 2005 - I don't have new white cabinets (like almost every upgraded kitchen now) or granite/quartz countertops but the cabinets are an upgrade from 2005, bathrooms are an upgrade from 2005 base model, no LVP floors, has carpet and linoleum (that looks like tile from a distance).

One of their hundreds of clients gets picked for audit...and then maybe another...and then maybe all of them.

However, if you want honest and professional opinions from hundreds of years of collective working knowledge,  than this is the place.