Basically, they are abbreviated inspections that focus on the more expensive liabilities that investors are looking for instead of under-caulked windows and damage to drywall.

And STRs really help because you don't have the large dings that long term rentals have - i.e tenants damaging the property to where you have huge make ready costs (the str insurance covers that), no collections or evictions issues. 

I don't consider someone always late but doesn't damage the house a good tenant; I expect the house to be undamaged PLUS the rent is always paid on time.

However, Peerspace has $100 deductible for qualified damages which is not so great for minor damages, or even some damages that cause around $200-300.

Seems suspicious but I could see nothing damaged.  

. - Then the next filter is physical property attributes with regard to its placement in the market, entrances, and exits, visibility etc

I would have went right after her with an attorney and sued for defamation. 10 million dollars in damages...

Of course, many investors bend/break this rule, but that's another risk.2) If your bid wins the foreclosure auction, you then have to deal with getting rid of any occupants - who may steal/damage everything they can in retaliation:(3) You MUST have a great crew on the ground that can minimize surprises - not easy to do on your first deal.Regardless if you buy a foreclosure or other property, read our copy & paste advice below:-----------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Other reasons could be related to title or physical defects (i.e. foundation issues).

Call me old fashioned, but real estate is an income producing physical asset.