I bought the unit used, & after doing some investigating, I've learned that it was purchased in 1985.

It seems like for every opportunity we investigate, there is no money to be made.

I've seen 1/2 baths counted as full...wrong sizes, wrong bedrooms, etc.Then ask for their comps.....investigate those....make sure they are good comps.A couple of years ago I got $40,000 or so off a $100,000 property because the appraisal district was ridiculous.They were using brick homes with garages vs my home that had no garage and was siding.They also had 3-4 year old pictures  that were beautiful and I had mine that showed not so nice.I also chastised them for using a google street view image, when they had not purchased commercial use license.Appraisal district was furious, but I think they don't fight fair....so I took up the challenge.I felt like review board was fair and maybe embarrassed by the tactics of the appraisal district rep.

I would love to hear outside input on this specific market, and the suggested cap rate for buildings in this area of Texas, because I am currently investigating other properties in the area.   

Lowe's also gave us a runaround with the cabinets, so I'm delighted to have another avenue to investigate for those as well. 

While researching properties in the area, upon further investigation, I learned that the property is currently owned by an absentee owner.

If that happens, the Fair Housing investigator will very likely ask [1] how many other insurance companies did you contact (and can you prove it), and [2] what were the prices of the other insurance policies that would create a “financial hardship” for the landlord?

If I see something I like ill do my own investigation before any contact.

And even if you have it, you still need to research the individual counties' rules before investigating in liens and deeds.

NAR recently lost a $1.8B dollar lawsuit which could be tripled with several other civil suits pending and a possible DOJ investigation.