Of all the properties I've looked at and done the numbers on, there's only been a few that turned out to not look good (on paper at least). 

Are majority of investors using spreadsheets, online software, or old school paper and pen?

Flipping the paper might make a few grand, but building a $500k house can be very lucrative.

Get pics, estimates, review your lease docs and serve them court Papers.

they all have a great pitch with glowing reviews and often the deals look good on paper and Often Turnkeys are so sanitized that there is little to no meat left on the bone .

I'm in a different location, but in D areas, on paper it's not unusual to see 20% CoC.

A tenant can simply have the local family doctor or counselor sign a paper who knows virtually nothing about dogs or what an esa is supposed to legally provide as a service .

I am just holding the paper and the buyers are responsible for every thing.

Everyone runs their figures differently but the way you run them will make almost every deal look terrible on paper.

Sure your paper return numbers in the $60k area will look better, but the real life returns over time will often not match up because of dealing with that kind of tenant class over the years .