Although I have submitted one offer, I'm not confident it will be accepted.My primary challenge has been the high asking prices for most of the homes I've considered, which make it difficult to achieve a desirable return on investment (ROI).

Similar to a 'high gross weight' vehicle deduction.

You all are likely far more accustomed to running accurate numbers on appts so I am giving your opinions heavy weight in my decision but also trying to vet the specifics of this property.  

But the key here is to have a desirable property that will cash flow. 

Assign weights to each criterion based on its importance to you, such as job growth being more critical than seasonal issues.

I know this isn't the greatest time to get into the market and am well aware that Santa Fe is VERY competitive and low on inventory but my life/career is dictating decisions more than the desire to grow a portfolio in hotter markets (for now). 

Desirability, yes.

Insulate, add electrical, mini-split ac, and possibly plumbing, as desired, drywall, tape and paint, put built-in cab's on one side if you want, hang the tv, speakers, etc, install bi-fold/multi-fold doors on the side leading to a patio, and replace the garage door with an insulated one keeping the track and removing the motor, or install a carriage type garage door into the existing garage opening.

Looking at this picture I'm wondering if you could hang a small weight to add some down force to the chain, at the off chance this is some crazy physics anomaly that's causing the chain to perfectly float up and get caught, the weight would help promote it back down....

They had pretty graphs and data, but instead they cashed out your 401k and spent the money on shake weight exercise devices.