You may be competing not only against similar houses in the area but surrounding communities.What is your demographic makeup? 

Those are all minor repairs that any competent handyman could do for $500 or close to it.

If you feel ready to jump into 80+ units, the Vegas market might be a place to come, be prepared to compete, but if you’re looking at small Multifamily, I would caution you. 

I guess one thing a person could look at also is how much dirt is available within range of the project to compete ..

Get to know the business and the players.

I’m competing with investors who have been doing this for 20 years.

The BofA and Quickens of the world are not making your offer look more attractive.2) Foreclosures have been pretty much non-existent for the last few years in the markets that I work in, so it's been awhile since I've done much research on this ... however, when I did, RealtyTrac and ForeclosureRadar were the main players.3) Full disclosure - I'm an agent, so my response to this will be biased ...

Hire a competent EXPERIENCED Multi-family Architectural firm with an infrastructure (internally and reliable contractor contacts) in place to make the job happen.Step 2. 

You will be competing with some Bed n Breakfasts out there.

I know I am competent and will find a great deal for a purchase.