I'd recommend researching areas to see that they have:- Low unemployment- High demand for housing - relatively low inventory- local job creation/booming local economy- high avg/median income- increasing population- low average days-on-market (DOM)- history of rent and property value increases YOY- low crime- highly-rated schools (or above average)I'd compare the target neighborhood to surrounding neighborhoods and/or nearest metro areas. 

An updated roof mitigates potential water damage in the future.

Renovations are high cost items 

If you're established enough as an investor that you're already doing projects and own assets, it's highly likely that taking the time to save 10 cents per letter by doing it yourself is not worth your time.

Additionally, you can rent it out for a minimum of 3 months (high season in Florida), 2x per year which is very investor friendly.

Pressure to buy something they don't want.   

I'm in the Pacific Northwest where home prices are quite high.

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In tax sale despite the positive hype of high interest and low risk there is significant risk in tax sale.

So my guys were down to the basement and looked behind the water heater.