Your involvement would be: complete a 15-minute exercise before we arrive and then we will interview you for an hour.

We are arriving at the same figure.

When we arrived, the drain pipe was pointed towards the basement window and the bricks were neatly stored under the deck's stairs.

On our 3 day drive there, I would like to research these and any other issues that are brought up to me before arrival (if you guys have any other suggestions to consider).

Any decent Realtor should be able to give you recent sold comp figures, divided by their revenue, to show how they arrived at the "local Cap Rate".Ask around.

However, it is 50% vacant with current rents around 150,000 paid by 3 tenants.   3 more spaces are vacant.How can I arrive at a fair market value for this property?  

We arrive on Sept 4th, tenant is still in house.  

I don't know how Jay & Dona arrived at their price but if they still don't have a buyer clamoring for it, it's probably overvalued.  

We are making an offer on an 1940 built home in down town Denver. This home is 750 sqft with 750 sqft in basement. Lot size 4500 sqft. There are tenants living in the home. Home is not well kept and needs a lot work...

Then, weigh the two in light of each's pros can cons and arrive at your own decision.The people advertising courses on TV aren't selling agent licensing courses, unless it's a real estate broker hawking pre-licensing classes offered by the organization with which he is affiliated.Being a licensed agent does NOT mean you've been trained to invest.