Also, remember that the closer you are to an auction date, unless participating, the better your chances of finding the diamond in the rough. 

If you did not know, there is a huge water park and conference center being built across from the Dell Diamond.

I guess my question for you and  @Jason Ginesis is more if do you wait patiently for those houses that fit that ideal criteria and make an offer immediately, focus on finding the coals that really are diamonds like the 2 star 5 caps that are really 3 star 7 caps as you mention, or focus on higher risk for higher returns? 

Ever heard the story of the farmer in Africa who heard of great wealth from diamonds, he only needed to find them. 

Caldwell is one of the hottest areas in our metro market and this home was a diamond in the rough- needed some love, but within walking distance to great restaurants, parks, hipster coffee shops, etc.

Like @Christopher Collins said, most things on the mls aren't great investments at the moment, but put the time in and you may find a diamond in the rough.

Quote from @Zachary Diamond: Good afternoon, everyone, I'm new too real estate investing but trying to go career with it.

Yes, you can get what looks like diamonds at Walmart but there is a reason they are much cheaper.

Better a diamond with a flaw than a pebble without." — ConfuciusPerfect is the ENEMY of great.

Stabilized under 2 million just lots of junk to look at and the actual rare diamond ( 1 out of 10,000 NNN properties ) there are multiple cash buyers to fight for it.