I think there are many reasons, and some of them that come to my mind (subjective opinion) are:1.

Do not mind if it's out of state.

Guaranteed value appreciation or maintenance.Although you said you don’t mind high risk.  

@Kevin Tan - I am considering this as well, if you don't mind sharing with us did you purchase the $79 one alone or with upgrades

Keep in mind that accelerated depreciation increases recapture tax (taxed at up to 25%) upon sale, though this can be deferred with a 1031 exchange.

It is just nice peace of mind that you don't always have to be available if their is an urgent maintenance issue.

But no doubt we have to keep in mind as stated this site caters to a lot of folks starting their journey so to us who have been on the site for a minute or two it seems repetitive but to the new investor its not they dont know what they dont know.

That's on me, my other properties are in good shape, this one was always out of mind.

I am sure some will do it with phone and e mail etc.. but I suspect they miss the best deals.Just like top wholesalers they have buying agents when a lead comes in that buying agent is over to the house and meeting with the folks ASAP so they can lock it up.. if they are non owner occ then yes this is different but now your talking about investors as sellers different mind set .  

Pets yes but keep in mind they do require more cleaning, maintenance.