Specifically using builder grade materials and not a fully custom home. 

Did they graduate from high school with good grades?

Sounds like a beautiful property, but as you know the cash flowing properties are in lower-grade neighborhoods. 

Seller, after doing our inspections, I am unable to offer you $ xxx due to the windows, water marks in basement, that white stuff on the furnace, the need for up-grades or replacement of .......).

Having seen Brandon use the BP calculator on webinars to guesstimate percentages for determining potential cash flow it seems like something like this, with very deliberately determined hard numbers, would be a safer bet, especially since it's pretty universal for SFHs regardless of which grade property we're talking.

Problem ended up being a combination of grading and destroyed gutters, and a non-functioning sump pump.

Cleveland, Ohio is the one I am most familiar with and it's also very popular with investors across the USA so I figured you'd get some value out of reading The Ultimate Guide to Grading Cleveland Neighborhoods.

Personally I wouldn't buy a home with wood below grade, it deteriorates.

Big chips need knife-grade epoxy and some careful work, especially when you take a chip out of an edge, which is very common around the sink.

Roofstock is essentially a Zillow type company with a focus on rental property buyers as their customer base.I recommend setting up keyword alerts for each of the following areas as they are discussed in the forums daily with advertisements posted in the BiggerPockets marketplace hourly.Cincinnati, OhioDayton, OhioToledo, OhioYoungstown, OhioCincinnati, OhioMemphis, TennesseeSaint Louis, MissouriIndianapolis, IndianaDetroit, MichiganErie, PennsylvaniaLouisville, KentuckyMilwaukee, WisconsinJackson, MississippiIn addition to those listed above the market I am most familiar with is Cleveland so I figured you'd get some value out of reading The Ultimate Guide to Grading Cleveland Neighborhoods.