Now I just have define s good case scenario of a likely motivated seller.

A simple fence, keyed access, a logo and a name can go a long way to define the area for your buyers.  

If you were to apply income based valuation on 1 to 4 unit properties, you would likely get the wild swing that you have observed.Second, the formula of "Net Return" as you defined it (i.e never seen it used before) is essentially Cap Rate * 5 (i.e. using your assumption of 20% down).

If you want them to educate sellers about what a realtor could do for them the realtor should definately be forced to tell sellers about their options. 

Common area electric expenses would be low to nothing except maybe some demand charges, making electric components the better choice.

Although cashflow is important, it is now always the only component to consider when looking at a long term real estate strategy.

@Sunny C. one thing I did not see mentioned on this or the other discussion you started is that I *think* of your IRA is involved in a project in any way then you yourself are not allowed to participate in the labor component of it at all. 

Do these markets fit your defined criteria or are personal motives more involved in your decision?

I understand structural components, city code, foundations, going rate for trim, paint, drywall, roofs... you name it. :-) just haven’t been on here in a while, due to working.

I wonder if you’ve defined what your goals are.