I look at sales comparables and population/demographic trends, and look over the area on a map and on Google Earth.Second, I contact the local citizens with regards to the building and if possible, the previous ownership.Police Department can tell me insider's opinion and can give me a breakdown of crime in the area.Fire department - have they had any emergencies at the building recently.City Inspector - are there any outstanding violations?

You might do a spreadsheet study comparing several SD IRA custodians, using your estimated annual transactions, if this is the route you want.

Looking at comparable properties in the area this house would appraise for around $70,000 now.

To do this compare rent prices of 3/1s to 2/1s (order of preference if available: both condos in same complex, condos in same area, SFRs).

The appreciation value (or forced appreciation value), which means the property will be "comparable" to the 4 bedrooms in the neighborhood as oppose to the last comp of two bedrooms.

Partner-up(this is my favorite) so I can share the risk and reward of the properties.

I can find FL notes for 50-70% discounts compared to ARV.

I believe it would be important to look at the realistic risk vs reward.

Prices still seem good (granted I'm comparing to GTA prices and not, say, Milwaukee or Indianapolis, etc!)

Where are the prices now compared to when they bought them?