The major employers in Pierce county are the Military and Healthcare - neither of which are at risk of picking up and leaving.Depending on the asset and submarket, some people think their property is worth more than it is (and they're getting it) so sit and watch for the right project for you.I disagree with Mike (above) on two points.

Should I try and purchase the business as a whole including the website and rebrand to a new name or try to "cherry pick" the best properties?

Pick 1.

Inspect the quality of the rehab and if a permit was required  and what status are they in.You can pick up a good deal with a frustrated owner.  

I'd pick Arizona.Average Turnkey Cash Flow Per Door In Phoenix Metro Area No Bank Neededhttps://www.biggerpockets.com/forums/600/topics/584916-average-cash-flow-per-door-in-phoenix-metro-area

With this being the case, I almost feel compelled to pick up W/Ds to remain competitive.

However, I think you may be recreating the wheel.

I would like to find someone that would be interested in a cup of coffee while I pick your brain.

Pick a solid B-Class suburban area.

We think it's possible for this home to get picked up soon, so we would like to move on it pretty quickly.My mother owns a rental home that is currently valued around $165k that was purchased in 1994 for $35k.