The "owner" said she had done a loan modification which she did not make any payments for so I'm wondering if she didn't give up the "normal/public trustee process" approach in exchange for the loan mod.

--Is there a support-approach the founders/managers just modeled so well, everyone else just followed?

Approach the subject of real estate investing as a person and not as a woman.

You appear to have a few well thoughtout approaches to go with.

So it may be better, for the good of your reputation and potential long term relationship with this agent, to approach them with that in mind. 

Also don't be shy about approaching regular flooring companies.

For a studio vacancy that came up in September, I rented to an immigrant family of 3 with good credit but marginal income who is downsizing so their daughter can attend college rather a single professional.Not sure this is the optimal approach for me, but it's the best I've considered so far.

Would you approach it differently than what I've outlined above.  

For example, if it increases cash flow enough to pay for itself over 5 years, and the market CAP is 10%, it will, by definition, increase the value of the property (from a strictly income approach appraisal perspective) by double the cost of the improvement.

For the 1-4 unit non commercial properties will appraisers typically use the income approach?