Start with simple repairs, plan for vacancies, and ensure professional inspections. 

We never or seldom use signs on properties. and get the best quality apps from MLS, Zillow and CL in that order. 

A bad PM can kill a good decision.If you can't find a quality PM in a particular market, don't invest in that market.

Then, having covered my base, I'd try to differentiate myself, by having the best located property, the best quality property (given the price of course) and offer the best experience.

As with any insurance you need to weigh the cost of doing the repair yourself vs the cost of the premium payments.

Auctions are quite possibly the worst place to buy if you want to avoid repairs.

Yes, you will likely pay close to or at retail value if you are buying a quality property that has been properly renovated. 

No matter where you choose to invest, please keep in mind the following (copy & paste):--------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

Do they have a lot of repairs called in?

Never pay for work that hasn’t been done.3.Verify Work Regularly: Have an objective third party inspect the quality of the work weekly and provide updates.