I think the things to watch for are if the home has good bones and if the previous owners took good care of the home.

Step 1 is getting your expenses to bare bones, next to nothing cost of living beyond the basics.

We can look at the bones and have a few contractors we use - roofers, HVAC, electrical and plumbing - that we can call if we are serious about a property. 

Quality" comes at a premium.I've always preferred looking for quality at a discount.For example, I'm heavy into regional banks now as IMO they are the back bone of small business.Most of us small business owners prefer working with them due to proximity, better rates and service and the relational value they offer just to name a few.Market has been dented due to the SVB, First Republic and now NYCB fiasco, etc... 

It’s a bit of a fixer (good bones, just ugly) and we paid under market value for it, so instant equity upon purchase. 

Cut expenses to the bone.

I've got a Bone to Pick with you People ..........Always loved that Sienfeld Episode.I've been in Real Estate as a Realtor and as an Investor for over 20 years.

Throw in literally anything you want, plus salt, and boom you have chicken soup, with all the great nutrients from those chicken bones/fat.

Then they lower it a little (still not enough meet on the bone for an investor) But in my opinion, I think they are trying to get home buyers to bite on the properties before they decide to sell at investor purchase prices.

So, when you are searching, I would look for spaces that have good bones and already have the bigger projects done.