.- The quality of interiors, flooring, kitchen, bathrooms.. and how they differ from the qualities of the surrounding properties.For example, investors who have been around a certain local real estate market long enough have a very precise idea of what's the value of a sq m of an apartment (condo) for total renovation.

(simply because i would have a system of having someone else to bring me deals and not worry about the marketing factor... which is precisely what other major real estate workshops offer)It seems that placing the system in place... where I simply network with other investors... and team up with syndicator who spends time and money on marketing... may very well seem like a sweet deal.... for me... 

This is precisely the situation I'm in right now, actually.

Precision and speed.

I agree that net income is a much more precise (and thus better) metric for measuring the tenant's ability to pay.

That's precisely why I don't recommend that newbies buy on the courthouse steps. 

I am prepared precisely for the situation you described!

Vacancy isn't precisely an expense, but it a deduction against the scheduled rent.

I am just in the process of assisting Rosa Tang that got screwed by Precise Property Management that were based here in KC.

IRR or MIRR are much more precise and all-inclusive.