They have a large base of investors, and I am puzzled why so many would be satisfied with such a seemingly inaccurate calculation.Am I off base in my thinking?

Contractors are just as much a piece of the puzzle as the initial purchase.

People will frequently nod knowingly, but then some will get a puzzled look and say "wait... what??"

hit the nail on the head - the reason a person files for bankruptcy is important and will give you an important piece of the puzzle in regards to evaluating them as a potential tenant.

I plan to take it apart this summer and clean the burners (hack saw blade to the slots) and seal up any gaps in the cast iron puzzle pieces that comprise the combustion chamber (but first I will blow theatrical smoke inside the chamber in order to suss out where any potential leaks might be).

Everything you do should be a piece to the puzzle that you want to complete 10,20,50 years down the road...That being said, I think house-hacking is the best strategy for a newbie... you will gain the acquisition experience you'll need for each transaction so that you know the ins and outs of how deals get done. 

I'm genuinely puzzled as to what the possible endgame could be...

Realty Doctors primarily handle the sales piece of the puzzle.

The investor relations arm is the third piece of the puzzle, which is constantly raising capital and maintaining communications with investors.

If you're paying a someone or a company to manage that's the missing piece of the puzzle.