Should I just pass it to a more skilled buyer/wholesaler?

I export to excel, calculate price/squarefoot to get some ballparks and then pull up similar houses for a more in depth comparison.  

It seems like that could be good, in that you get an answer without having to do the paperwork first, and maybe also get a more personal connection with the seller.

The purchase price to rent ratio can be used as a rough indicator to find areas that will cash flow well but they may not do as well in terms of appreciation which can be a more risky purchase.

But upon further reading I think I'd like to take a more laid back approach where if I find a deal, I will not lock it under contract at X price, but instead try and help the potential seller find a buyer. 

If the listing is on MLS then I would get an agent and have them run comps (CMA) and get there 3% fee which is paid by the seller If it's off market and they won't pay the realtor fee - You could pay a realtor $125 for a BPO (broker price opinion) to get a more realistic value.

I've been devouring BP podcasts of late (listening in order, and now I'm on show 45), and am looking to be a more serious investor.

My first reaction would do a more elegant/stylish balustrade, which would IMMEDIATELY set your unit apart from all the others, since interiors are how you're competing. 

Think great concept for older people want to stay in area but need a more supportive community around them

I know when weighing cash flow investments looking at CAP and IRR is a more savvy way of determining value than just CAP.