If it's a homerun the investor will know that upfront, you don't just blindly walk into those generally. 

After the tenants moved out, we noticed pretty extensive mold on both sides of the sliding glass door--wall and baseboard as well as the blinds and spots on the glass and frame.

(I personally feel that greed can be just as blinding an emotion as fear.) 

The way I see it, the numbers are aspirational: don't think it is a bargain unless u get 20%, don't wish an improvement pays for itself unless it can increase value by 10%, don't think it will cashflow unless you got that massive margin of safety.If you apply the rules blindly, you'll get the problem house in D hood.

It may be popular as it's easier to invest but you're crossing a 4 lane highway and half blind for a lesser return.

There are people here on BP who invest blindly with success, I would venture they are a small minority.Enjoy BP!!

When you say just blindly taking 10-15k off the listed price, it sounds like you have no end goal in mind other than buying a listed property for a reduced price.On the other hand if you can break down the numbers to the agent, down payment, rehab costs, closing costs, what the market rents are in the area, expected expenses, and ultimatly what kind of return on your investment you are looking for it will paint a much better picture for the agent on why you are wanting to make the offers you are talking about.  

Bill Gulley   Average RE agent just lists and sells and gets blind sided just like the buyer in this case..

I feel blind.

You've got to nail down your ARV or you're flying blind.