It's worth investigating, but I would definitely approach it with caution.

I know the firms that do this in a big way are usually lawyer owned and or are private investigators ( licensed)

Understanding what items to investigate and how to navigate due diligence to eliminate surprises is critical. 

But at the end of the day, it comes down to how much do you want a particular property, and how much does the seller want to sell, that determines your price and thus your particular cap rate.I find such studies personally interesting, but think most investors would be much better served spending the same amount of time investigating ways to improve their negotiating skills, than understanding the finer points of the cap rate components 😂

I wrote the governors office and want to follow up to set things up for investigation. 

I had a phone call with Morris invest early in my turnkey rental property purchase investigation. 

Your situation may warrant a bit more investigation (your decision on how to spend your time).

Investigate your legal options before you commit to the purchase.

We use a YTD paystub and last year’s W-2(s) to calculate income several different ways:Hourly or salary income calculated to a monthly amountYTD income divided by number of YTD monthsYTD + W-2(s) income divided by the corresponding number of monthsIf these numbers vary too much, then we investigate and require an acceptable Letter of Explanation.Employment StabilityUnless an applicant has exceptional credit, we strive to determine their stability of employment to make sure they’ll always be able to pay the rent on time.

I've considered a private investigator for the right price and just set up a digital address to try and mail to the mailing addresses for some of them.