Charging below-market rent could indicate personal use rather than investment intent. 

Like you indicated, there's a lot of minefields.

I'm sure they're getting something out of it and I've asked tenants if they indicated they wanted to pay by credit card just to see where this is coming from.

Fewer still actually show-up to deliver the value in-person. 

I did the below research a couple/few years ago (so info is slightly old) but never ended up doing one but for those who watch my posts, I have indicated it is high on my list for Q4.  

On the disclosure form, the seller had indicated “no” to any known damages.

This is why people are getting pissed with cold callers and your seeing very poor response/appointment/sales rates with PS data.This is what Joel Bongco has stated alsoIts absolutely true and I can go further and quantify exactly how bad the data is using my own study comparing PS to county records.I compared PS preforeclosure leads to county records across 167 counties in Texas (67), Florida (50) and California (45) by running searches for both PS ad the County recorders datbase for the period 08/01/2024 - -09/30/2024 and found thatFor TX which i measure preforeclosure leads as all lis pendens, appoinment of substititute trustee (Not a NoD but used for a similar indication) and notice of trustee filings.

Also, if the property doesn’t cash flow or cash flows poorly as your summary indicates, coming up with a creative financing strategy that allows for greater cash flow doesn’t necessarily make it a good purchase or investment.

I would like to think it is worth it, and that I could run a business model that serves fewer customers really well rather than deliver basic services at scale.  

The appeal, in my experinence, is a steady local base plus some vacationers passing through.I’ve got a freind who scooped up a place near the Ozarks and found that while huge cash flow was harder to come by, the consistent occupancy gave them fewer headaches over time.