Until you have the property inspected to determine the current condition of all major components and appliances I would increase your R&M and CapEx numbers to 10%. 

A knowledgeable, hard working realtor is a key component of a successful investing team. 

Heed a property's cash-flow numbers, of which taxes are just one component (albeit an important one at that).

I've been working on a business plan for it using the senior living housing model without the ADA/medical component. 

I just looked at the last one I had done and it says:All components designated for inspection in the ASHI® Standards of Practice are inspected, except as may be noted in the“Limitations of Inspection†sections within this report.It is the goal of the inspection to put a home buyer in a better position to make a buying decision.

The HVAC is dirt cheap at 3K considering its a total install (no existing components or duct work).

You clearly have a limited understanding of the subject matter, but since you seem eager to learn, allow me enlighten you...There are two potential fallacious components for the Appeal to Authority syllogism, only one of which must be met to incur the logical fallacy.

The two key components when prospecting via the mail is to get the prospect to read your message and cause them to take the action that you dictate.

I'll be excited to see the "facts" that make bailing the defaulted losers out, at the detriment of those paying their bills.

So in the agent's case, getting the sellers highest possible price at most favorable terms, or getting buyers into the homes at lowest possible price etc. is of top priority, sometimes to the detriment of everything else.There are many good agents are out there, but unfortunately they are overshadowed by other agents who don't know what they're doing, don't care, or too experienced to learn anything new.