Cash offer do carry weight as they can close quicker, don't need appraisals etc, but as an agent that works with buyer and sellers, I've seen it many times where a seller will pick a different offer due to some connection to the buyer (ex military, young married couple just starting etc) They want to know its NOT going to an investor specifically. 

A great rule of thumb is to underwrite 100 deals before picking one so that you can develop another sense and start to smell out the great opportunities when you find them.

In the meantime, I plan to cold call opportunities I picked out that look promising.

You could pick any spot on the map and probably make a good investment.

In the end, a majority of inspectors would likely appreciate the fact that you will end up improving the condition and make it safer; especially if you are not trying to use the space as additional utility space or living space; just as long as the Zoning Reviewer doesn't pick your project to become an issue, or just as long as you are not hiding an illegal unit which an inspector notices once on site...One final note;In regards to deconverting your property to a single-family residence in the future; with the Zoning TSL Expansion, many Zoning designations are restricted from deconverting properties away from an existing Multi-Unit condition.

You can pick who you want to live with.

What I have picked up so far however is that there are TONS of ways to make money in real estate.

It works like this: pick one of their turnkey-ish houses from their list, or bring your own, get financed for a 50k house with 10k down, pay interest only @ 10% for two(or3) years with 5% accrued interest tacked on to the balloon payment after 5 years with possible 2 year extension.

I'll share what I have learned in the markets I have researched.Ashford--this area has really picked up speed with STRs and there is a community in Ashford (Paradise Estates) that is investor friendly has several STRs.

Therefore, comps (comparable sales) should be researched with that in mind.Basically, as an appraiser, I am not limited to any specific rules or regulations when it comes to picking my comps, deriving my value opinion, etc, as long as my method/s or reasonable, credible, and supportable.