In 2008 to 2010 as many folks choked on NPN's, risk assessments where high and investors wanted adequate compensation for the perceived risk.This same feedback has come from my observations and dealings as well as discussions and dealings with some of the top market guys like JP Morgan, WP Global and Citi.

Sellers are scared off by having a unit that needs work, but that is good because it lowers the perceived value of the property.Gino

In fact, I would even go so far as to say the advantages you'd have as an active local investor would likely trump any perceived or actual benefit you'd get in investing in one type of market or the other remotely ... so I'd say work with what your lcoal RE market has to offer, and that could actually be a fairly wide range with all the local sub-markets. 

And I didn’t see any perceived advantage to doing so.

They were courteous but after getting what I perceive to be the run-around and no idea what's going on, I need to consider options.

If the perceived down side here is losing two years of time to finish college, that is really a non-starter reason.

You experienced a seller really needing your help because there were few other perceived options for her to sell quickly. 

Just like everything, this is a relationship business and the better your relationship, the lower the perceived risk to the Lender.

Others will panic and try to sell it themselves immediately without a real estate agents help but,they won't accept the reality that their home equity is no longer in their possession and belongs to the bank foreclosing on them.They normally ask for almost all of their perceived equity from you at first even after you explain that their house is a mess in need of thousands of dollars in repairs and updating and no longer worth what their neighbors got for their homes last year.Your best bet for a cheaper bargain is to wait them out and snatch it a week before the auction when they're sweating bullets about moving out without a dime in their pockets to start over somewhere else.You need to be that life saver that shows up and saves the day with a small amount of money for them after the mortgage is paid off.

Don't rely on zillow for your valuations because it's not as accurate as people perceive it to be.