That time is well spent, but it's not an ongoing job, it's an ongoing obligation to follow your debt reduction plan. 

Equity accumulation through principle reduction. 

With the Big 5 banks tightening lending (reduction in loans, stress test), you will be seeing a lot more "price relief".

Yes I see a slow down, buying on speculation or even on current ARV's is risky and there should be a cushion in case some quick reductions are needed to get out of a deal. 

yeah, foundation issues are a no-no for me, unless I can negotiate a super steep reduction on the ask price.

If you know the area as well as you should when you're investing, you can also buy without a realtor and use it to try to negotiate further reductions in the price of the house by 3% (what would be buyers agent commission). 

Figure out what it is going to cost you for the evictions, lost rent, etc. and try to get a reduction on the purchase price of the property.

Do I treat it as if I were purchasing a home and ask for a price reduction/credit towards those systems if they are in poor condition?

@Joe RuggieroIf separate electric- tenant can take care of water/sewer is typically a landlord (unless separate meters) trash- is city/town dependent, but they typically buy their own trash bags For water reduction, you can purchase shower with less GPM as well as faucets. 

This way you can get one full month of rent to start, it gives you a little buffer and then the second month take a reduction.