Other than that, there are a few outdated properties visible from my place but nothing distressed or with undesirables lurking around.

but from what i've read NACA systems are so outdated how do they even have capacity to check that from their members?

Also, get a financial calculator or Excel and get familiar how to use it is advisable.Need to add, theory and basic methods may be there, but it is totally outdated and strategies used then can be bad advice today.

And do not forget that some title companies have the NOD search right on the account that they give you, so instead of waiting for them to send you the list (which can be outdated and sometimes a waste of time) you can just search current listing yourself.Good Luck my friend!

Try to find a house that is well cared for (in other words, may be completely outdated but has a newer HVAC system, etc) and most importantly that cash flows. 

Me personally, I usually only buy deals that I can add equity too, id try to find something turnkey but a but a bit outdated, you can then perform some updates to add value and also raise rents.

The star grading is all based on automated census data that can be outdated and does not take into account more intangible attributes (block-by-block) so take it for what it's worth and talk to boots on the ground (your potential PM). 

If a tenant breaks a lease we tell them to put their notice in writing to us with an exact move out date and respond back in writing that they are responsible for the entirety of the lease or until a new tenant moves in. 

It is outdated and I have been fixing it up as I go.

Slightly outdated, but for cash flow:https://www.biggerpockets.com/...If you want appreciation, look for cities with strong economic drivers (large universities, hospitals, employers, investment/development, etc.)