This house is also a testament that if you put in quality work with amazing craftsmanship, you can push the price higher because it sets itself apart from other recent flips.

Bottom line- you can't have it all- you have to choose higher cash flow (C/D properties, high turn over rates, high maintenance) or reliable appreciation (high quality tenants, low maintenance, lower cash flow)- or some combination therein. 

We will be following the guidelines laid out in the Book on Managing Rental Properties very closely to avoid any fair housing issues and place a quality tenant.

In addition, I use high quality (not $8) surge protection power strips on my computer, TV, etc.I do not bother though on my rentals. 

Spring Valley works well for new investors because it has a balanced trade off of cashflow and quality of location.Are you planning to use cash or financing? 

Value comes in intangible qualities such as being well connected in the local RE industry to get results, aggressive marketing, and the execution (riding Title Co and Bank's arses to make sure it gets done).

Are their listings detailed with good quality photos?

The people I know in this area do not want to own any homes and this can improve the quality of tenant at times as they are looking at it as their home.    

As long as the cars aren't all on blocks, then that's not really an indicator of neighborhood quality. 

They clearly had expenses thinner than 50% in most cases so my assumption was, with a quality product (full renovation of all the big capex things: roof, mechanicals, plumbing), and in a decent area with good tenants, you can safely lower the expense projections under 50%.