We have been getting multiple offers on our "launch weekends" and frequently getting above asking price from the bidding wars.

By curating this data, we can have peace of mind that a property is performing without having to do frequent walkthroughs.

:P The second big paragraph above is mostly gleaned from just lurking in online discussion forums frequented by appraisers.

Great points, @Dean Letfus - no matter how frequently the experienced investors discuss it, newer investors will always buy class D properties(which should hearten some older investors who wanna dump that junk!)

This question gets asked very, very frequently on the forums - run a search and you'll find ample material advocating both approaches.The bottom line is that with your first investment property it really doesn't matter either way.

When you've got tenants in a property that wasn't built for multiple units, you'll generally have many more problems with noise transfer, causing you to have more frequent turns.  

@Charlie MacPherson   I see these $5,000 fees attached to short sale listings more and more frequently.

Its well worth it,  and they also offer frequent training,   attorney-reviewed rental forms that are correct and legal for seattle, etc.,  as well as organized and effective local advocacy.   

I see cash sales frequently for MLS listed properties.

I lived in Johns Creek for 20yr of my life until I moved away for the military 6 years ago, but I visit frequently.