There is a state law (Kansas Open Records: K.S.A. 45-230) that state, "No person shall knowingly sell, give or receive, for the purpose of selling or offering for sale, any property or service to persons listed therein, any list of names and addresses contained in or derived from public records … Any person subject to this section who knowingly violates the provisions of this section shall be liable for the payment of a civil penalty in an action brought by the attorney general or county or district attorney in a sum set by the court not to exceed $500 for each violation.") that makes it illegal to buy/sell information obtained from public records for marketing purposes.

This means the properties exist in livable condition and have renters in them so that you have the rents as a source of income derived from the buildings. 

It’s through the time value of money that most note buying and selling strategies are derived, Joe A.

Going in, know you'll have to spend the money fixing the homes up if you want to derive income from it.

Do you have a data-based process in which a cap rates is derived?

The garbage amount came directly from the city and confirmed by other biggerpockets members; the insurance estimates were derived from the bank spreadsheet, which I know I could get even more specific just by calling the insurance company.

Mobile home parks are seen strictly as income properties and the values are derived by a cap rate on the income.

Cash In-Flow - Cash Out-Flow = Net Operating Income or Debt Coverage RaitoNet Operating Income x (1-Business Tax) = After Tax Income Net Operating Income / Property Value = Cap RateNet Operating Income / Initial Investment = Derived Cap RateIs a Duplex or Triplex not evaluated similarly?

The multiplier is usually derived from the sales comps that were analyzed. 

The condition adjustment can be derived (as a %) from repaired vs un-repaired duplexes and triplexes.