Unless you have a massively wide area you're not going to constantly get 100's of deals to vet.

I think that trends among millennials (who make up most first time buyers, which is a massive chunk of my market) are significantly more interested in an urban lifestyle.

I don't consider myself as a smart investor (who have seen it all), and I do think banks are likely to be smarter as they invest in massive mortgages (as they have a million cases in order for them to implement the *relatively* well-rounded investment process).

I have spent the last 20 years funding deals for many a guru student.. so I get to know those guys pretty well attend their events.. help their students buy their deals...Only heartburn I get is talking folks into running up massive CC debt to pay for the schooling.. that can really hurt someone.. other than that is a free country.  

All my expenses are now tax deductible, from the Mortgage, Heat, Electricity, HOA fees, all expenses, this will come in handy during tax time as it looks like i took a massive loss. 

You can get a sample report, maybe they will help you guess at cost of repairs.Be a Buffet.....buy what you know.....or be the best value investor out there to buy cheap enough to fix what you don't know.....price in risk....too many investors don't.If you find a checklist somewhere, please let me know.  

It doesn't always look like there's a massive channel/funnel but when it rains (and it's not like San Diego is known for robust rain) you can watch the water flow away from the property.  

@Paul Bowers10% of CapEx is simply a rule of thumb.Buying a cheap piece of crap property is going to have massive CapEx requirements potentially in excess of 100% of rent.

That's the Warren Buffet way to get rich.  

They were originated in massive quantities and securitized then sold to institutional buyers who have no interest in managing foreclosures and holding real estate.