However, if there is a labor shortage maybe their quote is not too high. 

He didn't mention late fees. 15-Feb 180 1-Mar   230    She was accidentally $30 short and he didn't notify her until AprilIn April he finally mentioned that she was $180 short on rent from the October $150 shortage and the February $30 shortage, but didn't mention any late fees at the time.

These areas have unlimited renters, that are high quality, and typically there is always a shortage of places.Back to how you will acquire tenants.

Nowadays the house would probably bring in about the same in gross rent (there is more competition but rates have gone up as well) but the rent for that house would be $20-25,000 per month as the demand and shortage in housing has caused a great increase in price.  

If the owner can cover the shortage its not a short sale.

With regard to shortage of vendors, I 100% understand that, but they should have warned you up front.If you have no cap on expenditures that can be made without prior approval, that can be dangerous.

There is a fundamental supply shortage that has not been addressed.

We had a particular property in mind when we went there - as we had seen the property before hand and we couldn't get it worked out with the bank because of shortage of time. 

They seem to realize there is a shortage of housing - specifically affordable housing and are working to open some doors for investors but it isn't a fast process. 

I work directly with flippers and there is no shortage of opportunities to flip in here as well.