Because it's my money, I care more (I get 92% of the revenue, PM only 8%, and PM team member near 0%), I only had my units to manage (PM team member has other owners and units), and, with humility, I am smarter and harder working than the team members assigned to my portfolio (3rd party PM has to hire at a level that makes the business model financially work for them). 

When analyzing a market and breaking it down into property Class submarkets, do you find it helpful to complete this division at the city-wide market level, or do you find it also beneficial to additionally break it down by suburb, and even neighborhood?

Note that water penetration is not limited to flooding from rising water levels on the ground in a weather event.

I feel like I'm drunk as every one is not level or taken at an odd angle.

This is a personal choice and depends largely on your risk tolerance level and the current demand for rentals in your area.Vehicle Repossessions: Having a vehicle repossessed is strong indication that a tenant cannot handle their money very well.

If it was me...I'd check with zoning to find out how many dwelling units I could build, and I'd find what the requirements are for those units (type of house, height and setback restrictions, etc.).Then I'd find out what local builders think the cost to construct would be - just get a cost estimate per square foot for 2 or 3 different levels of finish.

or, you can go into the high end neighborhoods where there's more margin... but probably the same level of competition as you're used to. 

It’s a great place to network, learn, and level up your investing game, whether you’re just starting out or already have a few properties.

Quote from @Levi Perl: The purpose of background screening is to determine a level of risk, and then you decide if you can mitigate that risk.How does a DUI conviction from three years ago impact the tenant's ability to pay rent or maintain the property?

BP is free and as a next level above, you can join any one of the big national RE brokerages that have much bigger networks, better education, and provide access to legitimate lenders instead of private lenders who may or may not be legit.