Most owners over value their property, and particularly if you are looking at off-market deals, that seller is not even motivated enough to list their property, so the chances of you getting a "deal" are very low.  3. 2-4 families don't trade on cap rate.4.

I guess it's just too many factors to consider and it easy to get overwhelmed and cannot get accurate info and estimation when I conduct analysis (ex. property tax rate, insurance, maintenance fee, rent, repair, closing cost, etc.) 

Kyle, south of Austin, ranked No. 2 with a 9% increase to 62,548 people, up from its third-spot ranking last year, while Leander, northwest of Austin, saw a 7.6% boost in population to 80,067 people, according to the data.In the new data set, Austin's population is pegged at 979,882 in 2023 — up 0.5% from the year prior — dropping it from the 10th to the 11th most populous city in the country behind Jacksonville, Florida, which has an estimated population of 985,843.Still, the Austin metro isn't stagnating.

There's a good chance the issue(s) you face has already been discussed and answered.Ask questions in the appropriate forum.

Now you might be like Joe, know rents for a couple of neighborhoods and can quickly estimate expected cash flow from properties pretty quickly (that's what I do as well) but you still need a screening rule so you invest minimal times on properties you will never put an offer in on. 

you just have to estimate them based on what the property needs.so if it needs a new furnace + a bathroom gut and remodel + new windows, you estimate that.  

The reason you want to hit the owner just before the sale is that by that point he lost any hope or chance of redeeming the house.

Amortize your major repairs (roof, hvac, built in appliances) and add an estimate for small maintenance.This feels not terrible to me.

There's a good chance the issue(s) you face has already been discussed and answered.Ask questions in the appropriate forum.

What you need to do is show what compelling argument makes taking this chance on you make sense.