Depends on strategy and long term goals with REI.

They have a better finger on the pulse of “market rent”.

That's the step I'm on to confirm what I believe are the following key items:1.

My thought is to take a compiled list of property addresses saved in Excel and then run data scrape from Zillow and Redfin on each of those addresses, pulling the property details back into excel and into the appropriate table I have set up. 

Just wondering can you ever catch a great deal on the market  and if so what’s stopping you from taking advantage?

Quote from @Olga Daisel: @Randall AlanI agree with Randall on getting more details, $7K gross a unit btw is a great gross income.

So ultimately this may require a discussion with counsel, and you may have to settle on splitting the cost.

With regard to renovations, I always suggest taking incremental steps to bigger renovations or partnering with someone who has already done a renovation at that level.I've been known to just go for the big rehabs for my personal investments here in Chicago , and during that process, it's always more stressful than it needs to be...As far as navigating the competition, I've found the best thing I can do is get EXTREMELY CLEAR  on what I am looking for; then I am confident pulling the trigger quicky. 

Depends on the focus of the reia.

If not, you may not even be able to finance this on a conventional loan.