What we need to ensure is there is a dominant perception that you can make it in America.  

But there are too many instances where the descretion of the appraiser is allowed due to lack of nearby comps or personal perception of the neighborhood.

Hey Zach - you are very perceptive.

See what you find, and draw your own conclusions.See: Confirmation bias and selective perception.

This is strictly a perception thing in my opinion, not a legal issue.Also generally speaking the code of ethics for licensees makes things like wholesaling a bit of a gray area in terms of who all gets a piece of the pie (broker's comission split and other distribution of earnings)

In the area I focus on, REO seems to go much higher than its market value just because of the perception that since its a foreclosure its a [st][d]eal.

So keep in mind that perspective and timing have a lot to do with you perception of a market.  

My concern is trying to break out of the local perception of the adjacent town and trying to pull b class tenants in a c class area again only due to the reputation of the town as a whole.

you may be running into the negative perception of wholesalers who tie up property with no means to actually close. and if they cant assign the contract they walk . 

If you have plenty of activity but no requests to rent, the cost is too high in perception to what the tenant is getting or giving up.