This is going to keep your bid honest, rather than lazier and keep your cash position stronger. 4) The only time you spend in this, is finding & closing on the quality assets and playing devil's advocates for repair/rehab/fixing costs.

@Zach Howard there is no agreed upon Classification in the 1-4 unit market.We've done our best to logically create a system for our market, mostly based upon relative sale prices, but also using crime rates, rents, occupant income and a few other variables. 

You don't want to start playing sides here and getting involved in these kinds of debates.

It would be based on the scope of work of the renovation that you're doing comparing for values in its as is condition and values after rehab 

@Robert MedinaI agree with @JD Martin that you’re in a strong position with $600/month cash flow and a solid equity base.

Basically, the further you get away from the city the more potential for cashflow, but you're also dealing with a different tenant base that may be tougher to manage.

while i do think it's valuable to analyze properties, it's really difficult to underwrite based on photos. 

Based on a quick answer from Perplexity it seems like there would be no issue with you buying the home and collecting passive income, but you may not be allowed to manage it yourself since that is considered active work.

This plays into the affordability issues for tenants by allowing them to live in nicer neighborhoods for less money, yet I get monthly revenue comparable to short-term rentals.I have also shifted my focus to buying better.

@Gary Abrams A cloud based solution would work really well in your scenario of having other family logging in and helping with management.