I'd avoid the major cities in NE in general, older buildings and harsher weather leading to more R&M.  

External obsolecence or aspects of less desirable elements are also considered such as being near a factory where noise or odors are present, high traffic areas or poor condition of surrounding properties are evaluated as well.

Other things that may cause an appraiser to miss would be just a few sqft out of their search criteria, or a major external obsolescence such as backing a major road or powerlines. 

@Byron W.The heat pump systems (external compressor, plus plenum heat exchanger) start around $3-3.5K CAD here ...

A buyer wanting to do deals where nobody has seen the house is a little off as you don't want someone to tie it up to then later back out when they or the agent or another party finally does go see it.There are exceptions of course when there is a crazy good deal and an external viewing has been made but those are rare.

They also tend to dig more into the positive return on analysis of properties. but less on the more nuanced details such as how far the value of the overall market has come from its inherit/median value based on incomes, job growth, internal vs external population growth and diversity of employment industries.2) Every investor should know that we've never seen this much cash sloshing around the marketplace (paired with debt) as we do today.

Set up as below: "Holding " LLC--> "Contracting" LLC"--> External Property Mgmt Company--> Tenant -----------Currently the properties are in mine and my wife's name.

From what you're sharing, to me it sounds like there must be a negative external factor.

So, anyone who stays in it long enough will probably experience some of these harsher realities.

The tenant is responsible for damage caused by them or their guests.However, someone that kicks in an EXTERNAL door is not that person's guest.