For college students, I let them handle the ins and outs, but with knowledge that they still need to be added/removed from the lease and need to go through a background check.

Over the past 100 years there's very few examples of rent values falling drastically. https://www.in2013dollars.com/...In a market like this it becomes how can I add value to make this property work and then what can I pay given that I am going to be adding value.

Water/sewer assessment fees, common in Cape Coral, can be added to the property taxes.

He knows the wholesaling market well if you are looking to be added to some buyer lists.   

A friend of mines is working with a capital firm, he is going up for financing with a bank, the question that he asked is can his development fee be added to the construction estimation or can a development be apart of the loan?

Can an extra bedroom be added?

Even doing that can take a while if you are only cash flowing a few thousand dollars a year so I will probably be adding additional savings to accelerate that process.

I am looking in the $100k-$200k range where value can be added like cosmetic fixes, but no major rehabbing.

Remember that these need to be fully furnished with a housekeeping surplus so if not acquiring a current vacation property, this expense and timeline will need to be added to your analysis. 

Think about beads on a necklace: they are all part of the same enterprise, with one house per cell.