I know that when you apply on these sites they want to know the rehab cost estimates a little bit about the property, on Patch of Land's site for instance they say they do an appraisal... 

For instance, you may need profit from 3 lots to cover the manager expense, from 3 lots to cover property taxes, from 3 lots to cover water, maintenance, etc.  

No disclosure just means that the seller/owner likely has no idea about the condition of the property and its innards, and is making no claim about any of it, for instance someone who inherited a rental property and has never lived there or inspected it personally.   

For instance, my first challenge was to earn enough in the entertainment business each month to pay rent.

But I get what you’re saying... in this instance you have theory and reality.. 

So for instance you are looking for 5-10 and you used to look at all duplex, tri's, and quads... make quads the only thing you look at and what the right quad deal would have to look like for you to go in.

For instance, there may be conversations of pest being found that don't make it into the minutes but could result in hefty extermination bills.

Take Ruckle St in MFC for instance. 2900 rough. 3000 nice. 3100 rough. 3200 rough but improving. 3300 decent (great housing stock though).

For instance, I'm not a 25 year old on BP with my whole life in front of me to have renters pay off my mortgages.

For instance everyone has been talking Indy lately and there is little to no activity in the Indy forum.