The best price may not be the best deal for you if the coverage is inferior.

What Kelvin is referring to is arbitrage (borrowing money at a lower interest rate then what you lend it out for) but the anology is a bit of a stretch for the following reasons: - Security: One is safeguarded by the FDIC, the other is secured by real estate quite often in a inferior lien position

People don't move next door into inferior homes.

Sellers loosely use the term replaced and it can mean many things from patching, to using inferior products, to replacing everything correctly with a certified contractor, to replacing everything with a cheap contractor who applied improperly.Definitely would have to look after a good rain to see how much pooling is on the roof.Yes a few low income tenants take pride in their units but not many.What age is the building??

I have spent half of the time fixing inferior "up grades" on my current rehab.

I look at inferior properties and work up modestly from there, even 3 bedrooms should give you some idea.

Rent ready units is a terrific way, the only problem being that the seller may perform inferior work just to finish quickly and save $$$.Good LuckGino

Pre-Qualification is far inferior to Pre-Approval. 

There are only so many sales so if the 5 cap building is inferior to yours you may go outside the range and make your offer based on a 4.8% cap. 

So i would say....Play to your strengths (Shaq didn't try and shoot 3-pointers, play to jobs that only experienced contractors and estimators would thrive in, like Shaq plays to the low post.)Location mitigates risk. ( If you are on a hot street in a hot area, your margin might be cut a bit but you have a higher chance of selling at market value on time there, than an inferior location)