We have created work instructions for every step of the process so we can maintain consistency in how we evaluate properties, communicate with tenants, market our properties, handle rent increases, manage property turnover, etc..... 

I have tried both, I think it depends on the market you are targeting and the type of leads.

Networking with local wholesalers and real estate agents who specialize in investment properties can also lead to off-market opportunities.

I was actually born in Hartford - would love to know how the market is over there!

Bought undervalued (market value of 265k); refinanced about 1 year later to contribute to next property purchase.

They are either dealing  with a property they are having problems with or they want more than market vale. 

Quote from @John Hu: First, look for market inefficiencies.

Most of these course instructors aren't qualified to teach anything but the most elementary real estate concepts and try to make their courses more marketable by teaching concepts they have no business teaching. 

what would you think of a 14,600sqft 3 unit property in sailboat bend, off market, that is RMM25 zoned and has a nice single family and duplex behind it, half of the lot if empty so it can be developed or RV/trailer parking, for $1.1M?

I own 4 STRs in Indy and have looked into the Nashville, IN market.