I am a conventional mortgage lender (by the way ARM's are conventional loans, just a different "flavor."  

There are no wrong answers - each investor has their own "flavor" if you will. 

Welcome Levi, nice to add more international flavor to BP Nation!

If you would like to give some context as to the factors that you look at in priority order (more important factors vs. less important factors) that would be a value added conversation as well.Additionally if you would like to provide some flavor as to what kind of ranges you are seeing regarding re-performing 2nds and the factors that influence your buying decision, that would be excellent as well. 

That being said, it's difficult for a new investor to discern the subtle nuances of a solid case involving an anomalous situation from a no-win money pit andlegal counsel who's better st selling than trying cases.

I did 2 years of reading 1 book every month, listening to just about every flavor of BP podcast, watching youtube videos, and networking and it does change your life.

I'm not familiar with the NACA program, however, we have what appears to be a similar program in Massachusetts that seems to have similar flavors. 

HELOCs have a couple of different flavors to them and running them through a lender might be helpful.

Amount of folks at the open house/showing- This one can be a subtle or very noticeable indicator about the demand for a subject property in particular.

In this case it is much more subtle/specific to the individuals.