The only reason I can think of is to cash out all of the money they made and put the risk on investors and basically sell it at market value to themselves..... 

If it's cash flow, I’d recommend looking at C areas with B properties (higher-end of the low market), but if you're after equity, think C properties in B+ areas.

However, many real estate investors use the inspection to determine if the property is a good investment.Here’s more information about these two steps:Home appraisal: Mortgage lenders require a home appraisal to ensure the sale price represents its current market value.

Any tips on how to identify markets for long term rental income?

When I refer to "proprietary deal flow" I'm referring to off market opportunities sourced by directly contacting property owners.I do have cash and will be putting together a small syndicate of investors.

However, I do not expect the refi appraisal to be 30% low, maybe 10% low.Did the market price fall or were the comps used by RE agent not good comps.  

I may be new to investing but I'm an expert when it comes to the area and surrounding markets (indeed I've had a front row seat to the growth in Florida).

-Got markets to target?

I have had this goal of buying my first duplex and have talked to real estate investors, realtors, lenders, appraisers and have been encouraged so much to where I am anxious to dive into this.Now that I am 18 I have absolutely no debt, a credit score of 727, I have 28k sitting in a certificate of deposit, a couple years of working consistently under my belt, I’ve also been investing in my Roth IRA, I feel very blessed to be in this situation.I am still in high school, I know it wouldn’t be smart to buy a house right now but something in me is so anxious to buy this house I know I have to have patience but I don’t know if I should start the process of getting pre approved, finding a good investor friendly realtor, lender, preparing my documents or if I should just wait.When analyzing deals in my market I have crystal clear real estate deal criteria my strategy is house hacking a duplex, price range of 500,000-600,00 in Salt lake, Utah! 

For example, Bali’s real estate market has attracted interest from international investors due to its growing tourism industry and development potential.