Some sellers just pass on these hot potatoes, having milked the property by keeping all the rents and not plowing much back into it...Then the exit strategy is to sell to someone who may not recognize all the deferred capital expenses.Some ideas for avoiding the hot potatoes (where everything is at or near the end of its useful like) might be looking at age (but it sounds like most listings are a bit older), so you might only look at those properties with updated major systems and components (HVAC, plumbing, roof, windows, insulation etc). 

Some components that come to mind include: Shower-Tub-Vanity-Backsplash-Cabinets- And anything else I forgotThanks again everyone for your input

In my opinion, the most important rehab components to pay attention to are the one that are most expensive -- foundation/structural, septic, mechanicals, roof, windows, etc.

The key component to the non-recourse is what is excluded and becomes recourse on default?

From what I can gather, a primary component to success in REI is being able to find a deal.

@Thomas Young there are other signs but you named a huge component.  

The education component of Keyspire has been valuable, but most of that information can be found on BP in one form or another.

You might need to simplify your verbiage, he "AS IS" component may not register with everyday homeowners.

@Ali Khan - Location specific for school as there is an in class component. 

Many of the meetup groups haven't had any recent events, or are primarily online webinar without a networking component.