The city of Renton, WA now requires landlord to certify the conditions of the building in great detail as well as many aspects of the landscape. 

There are also owners that buy at $30,000 home that is dilapidated, in the worst part of town, and not in rentable condition to anyone that has a job or just standards in general.I suppose there is the chance that you were done wrong by 5 property management companies, and had a run of horrible tenants, but I would wager a guess you got what you paid for. 

I recently talked to a local insurance agent that has been assisting some of the out of town buyers with insurance policies and the majority of them have purchased these properties sight unseen without any knowledge of the neighborhood they're in, school district, condition of the home itself apart from the pictures with fresh paint and new countertop or even seeing the homes surrounding it that have been condemned by the city. 

However, investors should be aware that cap rates can vary depending on a number of factors, including the property's location, condition, and amenities. 

Pros:Potential for Bargains: Auctions can offer properties at lower prices than traditional listings.Speed: The auction process is usually quicker than traditional sales, with a defined timeline for closing.Transparency: The bidding process is transparent, and you can see competing bids in real-time.Cons:As-Is Condition: Properties are often sold "as-is," meaning no repairs or warranties.Limited Inspection: There may be limited opportunities to inspect the property before bidding.Financing Challenges: Securing financing for auction properties can be more challenging and may require quick approval.Auction Fees: Be aware of any additional fees, such as a buyer's premium, that could affect the total cost.I hope this helps you out!

Negotiate with seller using the inspection report.Visit the area to get a feel for the weather/amenitiesIf you’re looking to get your money back down the line, don’t over spend on improvements Hope this helps! 

Having a broker makes that broker deal with the lender headaches, non responsiveness, ridiculous conditions, all the docs, and pushing it across the finish line within 4 weeks.There's lots, and I mean lots of turnover in the industry. 

Consider factors like flight convenience, property management options, and your comfort level with the local market conditions.

You can't because you don't know the move in condition of the home and it would be the seller's word against the tenant. 

Owner says rents are about $2-300 under what they could be but with the tenants being loyal and the way they are their own small community she recommends not raising rent.All 7 homes run off of 2 wells.Some differed maintenance but overall nice condition trailers range from 70s-80s model Owner says property manager/handy man lives next door and handles everything for her from maintenance to collecting and deposit rents.