It seems like there's always balance to be had (i.e. choose between quality, service, price). 

if you don’t, you will end up with an unbalanced portfolio that is much riskier than necessary. 2)  when you get a new deal, analyze the quality of the sponsor first.  

High cap rates, but watch for the fool's gold(a listing with an outlandishly high cap rate, for instance- on those, you'd be lucky to attain half the cap rate.)If you're not planning on having your boots on the ground, I'd say don't start with a property needing tons of rehab- better to start with a high-quality and high-functioning property, build your team, and then go for a rehab if that's what your goal is. 

A $10k rehab creates demand for the unit, which reduces turnover, and increases the quality of tenant. 

The real issue: had this been known to me, I likely would not have closed (this wasn't the only issue with the place), at least without reduction of price or final say of damage repair quality. 

I own six SFH in the Richmond area and need to hire quality property manager. 

What is the Hyde Park area of Scanton like as far as rental potential, quality of tenants/housing stock etc ?

The quality of the property plays a role too.

Looking for tips and ideas on how to flesh out the WCAP (wealth creation and preservation), principle. I understand this a very broad concept, but how can it best be applied to REI?

They are dependent on the age and current condition of the property and the quality of tenants you have.