Effectively, I run away from markets where alternative housing options (owning or renting stick built homes or renting an apartment) are the same cost or moderately more expensive than mobile home options.  

Thank you Samuel, and that is correct, by exposing the view I created a lot more interest and value for potential buyers, I’m not sure what effect it had on the appraisal.

It's good at a minimum to have a very short list.  3 out of those 4 you can probably select prior to purchasing something, the contractor piece is a bit more complicated depending type of project & size, you may be dealing with different contractors. 

And I know it's a bit vague, but there are so many different ways of approaching appraisals based on thousands of variables that it's hard to effectively answer your question without making it a tad long-winded. 

In short, in real estate you can control how you allocate fixup funds, tenant selection, etc., but lots of variables (as Charles mentions) are beyond an owner's control. 

Here are some recommendations for you:Find and connect with other BP members that are in your area: https://www.biggerpockets.com/search/users Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alerts Read Beginner’s Guide: http://www.biggerpockets.com/real-estate-investing Check out BP Podcasts: https://www.biggerpockets.com/podcastIf you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box.

Here are some recommendations for you:Find and connect with other BP members that are in your area: https://www.biggerpockets.com/search/usersSet up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alertsRead Beginner’s Guide: http://www.biggerpockets.com/real-estate-investingCheck out BP Podcasts: https://www.biggerpockets.com/podcast If you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box.

If you know your market, how to effectively analyze deals and have a rockstar core 4 (agent, prop mgr, contractor, lender) in place as David advises, I think you can invest in any emerging market no matter how close or far. 

Now you need to start preparing for marketing, showing, screening software and processes, selecting a tenant, Fair Housing, emotional support animals, collecting a deposit, disparate impact, local and state housing laws, Section 8, your lease agreement, late rent, unpaid rent, partial rent, bounced checks, etc.No worries!

A partnership doesn't compartmentalize liability as effectively, and the requirements for a C-Corp tend to be too laborious to justify it for smaller outfits.