They are rented quickly and for top market rates, because of the modern attributes that we have given them.  

Old housing stock, out of state investor, low asset collateral... all not great attributes.

I attribute this instant equity to several things including the strength of the market during those months but there are a few other key ingredients that I believe made this bump so pronounced.

You feel like you "get it" and see things differently (likely attributable to a book like Rich Dad, Poor Dad) and that they would get it too if they just gave real estate a chance.

Bottom line, I had a lot of personal debt I took on for other investments, but even so they were willing to finance due to the extremely low purchase price and my tack record.How long will it take: It took 3.5 months for me to close from the time I connected with the credit union. 1 month of that was attributed to delays by the seller, and getting cold feet in selling.

So key attributes are: 1) A+ location; 2) easy to rent out to A+ renter.  

I attribute most of my success and RE motivation to things I learned from this site and associated resources and library books.      

@John Gardner Similar to others, it looks like you're putting vacancy and cap-ex together and attributing 8%.  

A majority of success is attributed to who you know and your ability/willingness to learn from those who came before you. 

I wanted to see what type of factors can attribute to a properties marketed like this:Listing brokers not knowing what the true replacement costs are today (hard, soft, land costs) and purely using this term for marketing purposesThe property being built many years ago when construction costs and land value were considerably lower than they are todayI'm wondering if the original owners depreciation is also being considered?