I like being able to hand-pick every deal in which I choose to invest, and pass on the ones that don't excite me. 

But I am turning down average deals and handpicking the best available.

If you have a low cap rate and expected appreciation is higher than the rents support, your rent is to low or expenses are too high or you have external market factors (area, neighbors, external obsolescence) depressing rents and therefore appreciation.  

yea the only things that are not cash purchases are purchases that depend on external financing.

Thanks for the suggestions - my gut was telling me to do this but nice to hear it externally sometimes!

Thank you @Dan Gheesling for proving the step-by-step instructions for getting this done without the need for using any external services.

What are the external factors?

the neighborhood has houses in worse and better shape externally than this one.  

Or should I purchase an external hard drive?

I'd say splitting it into two units, one smaller, one larger and having an externally accessed bathroom with a punch-code handle would allow both units to use the bathroom.