These are definitely still valuable information regardless of market conditions.

(e.g. condition, location, size)2) The marketing / sales procedures are inadequate (e.g. no advertising, unresponsive manager)3) The asking rent is too highThe reasons a house won't sell quickly are similar.  

Note that it doesn’t take house condition into consideration, so there is still other due diligence required - but this is a great way to look for the most affordable houses in a given area.  

By being pre-approved by a lender you are not entering into an obligation with them, so you could be pre-approved by one and then, once you are under contract on a property, shop around to make sure you have the terms, conditions, and service that is right for you.

This limit is harder to determine than Replacement cost as it depends on condition, market value, etc. 

You can find apartments for rent for $850, but the condition sucks and there is only on-street parking. 

The real issues I do see is when it time to re-rent the unit a few of our clients are not prepared to get the home in the same condition it was in when we first rented it.

Examining market conditions and historical performance helps mitigate risks and enhance credibility.Reducing UncertaintyThorough investigation and analysis reduce uncertainty in investments.

There are conditions to qualify for the STR REPs status that are unique to the STR business. 

Here’s how to navigate these issues and negotiate with "AS-IS" sellers.Step 1: Asking the Right QuestionsDuring the initial phone call or walkthrough, I ask the seller key questions to assess the condition of the well and septic systems:Do you have any well reports, logs, purity tests, or flow tests?