It's true in some cases but it ignores the 2 best opportunities for smaller investors that have the luxury of cherry picking:1) Stuff that doesn't fit their model.

Listing on the MLS means every agent who has a qualified tenant looking for a 3 bed 2 bath townhouse in Woodbridge will show it, then walk the person through the application process. 

Plus utilities.It is THE most trendy area--small bistro restaurants, craft beer bars, used clothing 'boutiques', and 1 block walk to the subway.The other lives in 'up and coming' Bed/Sty. 

Being underwater like that really gets your brain going and the fact that you didn't walk away from it says a lot!

I am sure you will find someone who fits your criteria.

Does that mean that when I look at the $90,000 house and the numbers are close and the deal would make sense at $78,000 (that is, the numbers would all fit and give me results within the rules of thumb; 1-2% rule for instance) would one then offer what would work even if it seems quite a bit lower than asking? 

This method also fits with one of my personal values of leaving things better than how I found them.

The layout of the bedrooms is funky (probably is really a 2 bedroom originally) as you have to walk through one bedroom to get to another.

For instance I have a tape of over 500 right now that I'm narrowing down to fit within my company's parameters. 

We'd hoped to do shed dormers, but that would require too much engineering which would eat up a lot of time and not sure HOA would approve it, so we're trying to do the max we can with what's there (minus a few walls) That is going to be another great one for VR or full time living, etc. so should sell quickly, as it's part of SHARC which has waterslides, fitness, boat launch, etc. , and is close to The Village at Sunriver, a big bonus.