Basements are a rarity in the markets I frequent here in CA.An observation from this forum, many contractors and experienced REI have advised against finishing basements because of low ROI and the comments "it's not if a basement has water intrusion it's when"

However, I have also been tracking and observing the same shift he explains.Going against the narrative of the times is tough and you will usually not make a lot of friends that way.

A very general observation, but a place to start with your search.

The courthouse steps can present disadvantages over MLS, or online auctions in some observable ways.Court auctions are  subject to overbidding in the current Wake County market which is under supplied on lower priced inventory.

I got this from a wholesaler and very happy with the deal -I would say -go to the areas physically and check out the feel of the place-Talk to the neighbors , observe , before putting in an offer 

Based on my recent searches, there are only a few MF properties for sale in Merced area, is this a correct observation? 

I would say from my observations, it is more like 3-4%.

Just wanted to jump in and offer a couple of observations reference Cape Coral.

I don't wish for them to increase, but these are my observations based on known incomes and house prices.

And ditto on your observations for the repairs.I put in an adjusted offer close to the appraised value with a Saturday 5PM deadline for the seller.