Being in the tech space, maybe you want to find a way to blend the two, like others have with different products they've developed and brought to the market.Maybe you'd like to invest passively in real estate, there are a ton of platforms/services/sponsors for that.Then of course there are the more traditional active investing paths like self storage, multifamily, mobile home parks, office, warehouse, parking lots, raw land, the list goes on and on.I recommend researching the different strategies here on BP to figure out which is best for you.

The cap rate doesn't blend up much and they are syndicating to make money each time on the front end.

As an investor, the key really is to find a nice blend of cash flow and appreciation.

Keep looking at slightly more expensive multis and you’ll find the right blend.

A Thorough title search includes written inquiry to the code enforcement dept (and utilities, etc) in order to uncover any existing but unrecorded code violations.  

That should give you a good blend of cash flow / appreciation and allow you to see some economies of scale.If you want to share some numbers, the community is always happy to take a look.

It’s hard to juggle and blend good faith duties, fiduciary duties, best practices all while trying to carve out as much profit as possible for #1.

Doubt you'd have trouble with the appraiser or bank--your main concern, which is already clear from your post, is if/when the municipality uncovers the dark secret hiding in your basement.  

Your list should show that if it has owner info.I would mail monthly and track the results in detail including best day to mail, type of piece that gets results, owner occupancy, area and type of property that gets best results etc The more you test and track the more patterns you can uncover.

Do not renegotiate on minor details... but always assess the deal as new information is uncovered.