Glad you went to see the properties in person before handing over your money.To help others in the future, what are the questions prospects should ask when evaluating TK providers? 

Whoever sold it to them sold off their parking spots, and mismanaged the association- which drove all the values down.While they were evaluated at 130ish, the last one sold for 40k.

How do you research markets that have good rental returns? I've used this resource titled "Rental Returns and Cash Flow Heat Map" from Realty Trac but is there a better resource out there with more information? http:/...

It's hard to evaluate hypothetical numbers to see how they will pan out.

Yes their estimates are way off but you can find actual solds which is what you are looking for anyway to make an evaluation.

You can find all the information you need to understand evaluating properties on this site.

Everyone has covered the owner occ/versus primary residence piece and the county by county millage difference.However the other side of the coin must also be considered in order to evaluate.

BP,I'm currently evaluating an 11 unit deal.

That being said, if you want to wholesale I would focus on three things:Learn to evaluate deals-Find out the ARV-Estimate Repairs-Think of best possible use of property (SFR to duplex, or commercial etc. etc.)Find buyers for your deals-Auctions-Craigslist-REIA meetingsFind deals and put them under contract! 

This way all specific systems that could cost big $$$ are getting evaluated by the people who know them ( and the plus side is we are getting prices to fix items if needed).