It requires maintenance to keep all my automatons in check, but it's hard to substitute a system that does a lot of stuff for me.

I stands for inimitable and N stands for non-substitutable. 

I know investors who regularly skip cap rate valuation altogether and simply use PPU valuation because they are heavily invested and so familiar with a certain area.So the relationship between cap rate and PPU is that PPU valuation can sometimes be a quick substitute of cap rate valuation.Cheers...

While it is possible to continue the eviction after the sale it would require a motion to substitute the Plaintiff (obviously not a very common motion) that could give the Defendant 14 days to respond, and regardless would necessitate an order before they could proceed.

So, they rely on a "quick" (i.e. lazy) analysis tool as a substitute for their lack of knowledge. 

Insurance isn’t useless, but it isn’t a substitute for asset protection.

While you may have read a lot or practiced the mechanics of making a deal, nothing is a substitute for actually going through the process and you need to safeguard yourself from as many mistakes as possible.   

I'm doing everything I can to learn in the meantime, analyzing deals, going over property financials,  building relationships etc. but I feel like nothing can substitute for really doing it. 

@Ray Johnson your using “appraised value” as a substitute for running your own comps or using a competent agent.

No matter who you choose interview them very closely, make sure they are NARPM credentialed, fully licensed and have a ton of experience because there is no substitute for experience in the PM business.