depends on location, in a city they should be within .5 mi, in a suburb 1 mile and rural  5 miles but unique properties can be stretched further, I have done thousands of BPO's for banks, the rules were 3 listed and 3 solds, within 20% speck and similar condition, and make appropriate adjustments for differences, there is more art than science to it.

The dynamic makes for a unique RE market where you can have a million dollar vacation home next door to a hippie commune.

If you don't panic but work through difficulties and overcome obstacles, you reduce your risk.I don't know how to quantify it on a scale because every deal and every investor is unique.

My hometown has a population of 35,000 with its own major employers and own unique economy. 

I happen to only finance projects that are rentals that my gcs partners do the work on, so I have a somewhat unique business model.

Works in some places, doesn't even come close in others. 70% isn't really a rule either - every deal is unique, so if you peg yourself into these "rules" you will miss out on everything that just barely doesn't fit in the rigid box of rules. 

I love what I do and I love knowing that I'm adding value to investors world wide who are interested in investing in Milwaukee.I want to hear from other agents / investors who are just starting out that have perfected the craft of managing 10+ investors who all have extremely unique investment parameters. 

I have them under separate LLCs with individual accounts as of now because they are all unique properties that are also kind of businesses.

@Roger, your situation sounds unique and could present some issues if there is a loss at the location.

We have a very unique, and challenging real estate market in the New Orleans area.