Your mention of using GRM as a first pass and then diving deeper into cap rates and IRR is exactly how I’ve seen some of the sharpest investors I know operate.I had a buddy in Chicago who bought a four-unit last year in Pilsen.

As mentioned above, advertise in more places (Booking.com, Airbnb/VRBO,  Zillow, Furnished Finder, etc). 

The "high appreciation rates" you mention should be verified with recent data and be specific to the neighborhoods you're targeting.

Having said that, rents go up over time and as you mentioned tenants are paying down the mortgage (with more going to principal over time). 

Anthony,You would be surprised by using some old school methods like simply writing a letter like you mentioned. 

., so I don't truly screen the guests like you mention.

They mention returns of 25-36 percent. 

i think what @Bob Stevens mentioned is that his zip code average income is equal to his Ohio rentals, while home price 3x differences.

As I mentioned, it's a fine enough app, with enough logic and capability for small-scale acquisitions from the looks of it.

As others have mentioned they will be putting a lot of time and effort into this so it is important to have an agreement that protects them as well and allows them to do their job.