They're not connected to the electricity grid and don't have air conditioning or amenities.

Rarely are they in decent condition.

If your PM is only on Zillow than you selected the wrong PM, they are classified as a BOOB...Shelter is a necessity of life and there for it will rent but it will often come down to price and/or condition.

@Mike Dymski, in my experience raising institutional capital early in my career, I would disagree about "following a sponsor" for years, and actually many of the deal level analytics (a majority of institutional investors invest in funds not deals), but your point is generally correct.Ultimately, what I see a lot on these forums is that a lot of people are relying on the investment manager to also educate them on macro economic conditions, which will always carry a natural bias towards their types of offerings.  

Not understanding/not realizing a condition exists is unlikely to work as a defense.

For holding vs. flipping, let your goals and market conditions guide you—flipping can build quick capital, but holding offers long-term gains.

The fees and conditions also can differ a lot, so you should try figure out first what kind of apple do you want (DP, LTV, rate) and then bring them to an apple-to-apple comparison to see which one gives you what you need for what cost (instead of accepting all the fruits that are on display from each different DSCR provider).  

Because a 1031 is only available for a property you are using for investment.Here's the conditions.1.

Without tenants it's easier to show the property and the condition can look better than if tenants have their stuff everywhere.

Or if you have an investor friendly agent they can help identify properties that are in very good condition and link you to a property management company.