Assuming you have access to MLS (Multiple Listing Service, a place for agents to list deals).1) Look for deals that look like investor-type of deals (e.g. low purchase price, ugly houses, or sometimes MLS will even say what type of financing it is)2) If the buyer's info is there, voila.  3) Otherwise, contact the realtor to look for leads (that will be more of a uphill battle, but you never know...)

I assume if the CC is successful the return will be slightly better than that? 

I assume that money will be taxed somehow, whether it be a gift or claimed as income(?)

Kitchens, Appliances and relocating plumbing for revised kitchen layouts, adding in-unit laundry etc. are what generally drives these apartment renovation budgets assuming the mechanicals don't require complete upgrade or replacement. 

The people I've seen do this at scale is called Texas triangle fund. they raised 25 million and do this for horizontal developments to national builders.

I assume you're going to sell it to a developer, so sell it as is and let them deal with it. 

If I protect my numbers, interest rates would have to be 3.5% or so in order for a 1% house to work (assuming 20% down), which means for $3000 rental revenue to work, the debt load would have to be about $235K at that interest rate (give or take with variable taxes and insurance numbers). 

I assume there’s a structured approach to answering these questions—one that goes beyond generic formulas and takes into account the nuances of a specific market.

The number one factor in renting a property (assuming it has market competitive in finishes) is if it's priced appropriately. 

People voting on that are either crazy or stupid ...And that totally incorrect post on this thread STILL gets upvoted, and STILL has the most upvotes.And people wonder why I am less active on BP ...