The demand for affordable places to live is obviously high and there does not seem to be any help on the horizon, especially near downtown.

The point is, all those shadow homes have/had occupants at one time and notwithstanding several mass-grave discoveries on the horizon, all those people are still around.

Quick calculations like that are useful to create a shortlist and then gather more detailed information to build a cashflow pro-forma over your investment horizon.

I'm trying to gather up the best websites/apps investors use for finding their deals, buying and/or selling.I have my go-to list that I use, but just curious of others, always trying to broaden my horizons!

So your time horizon also needs to be taken into consideration.  

So I would be carful of a 6 cap, as with the movement of rates a Market cap is a moving target. on the other hand if your happy with a 6 cap and have a long time horizon, go with it.

We have high indicated rate changes on NC homeowners (including Rental), and unfortunately the combination of the rate change and higher roll-ons is going to produce rate changes in the 20% range at least until we start to see some moderation in construction cost increases (perhaps on the horizon).So just a fair warning to those with Erie, sadly.  

Great thoughts and I certainly agree that, with a long term horizon, this not only is the right thing to do but usually pays off as well.  

Could there be a massive influx of investment capital on the horizon?

With a 15 year time horizon, this can be catastrophic from a tax perspective.A CPA will be able to walk you through a few options and keep you tax liability to a minimum.