I work with a lot of new investors that set there goal at turnkey rental properties and it is individually for every one , I recommend out of state when prices in your area are like that of cours (im from LA so know what you mean) and I went to FL secondary market for turnkey investment and have over 150 homes there , dig into good areas and try not to leverage a lot , start small and grow with experience look for10 and up cap rates and for SFH that are Rehab . many great cities are on the rise Big hint is the word from the banks about their inventory like where I am now.

Do I have to look at each property individually to know the value of the property, outside the assessed value given it by the county.

Not the smartest of decisions but I wanted to own free and clear and then reap the rewards.

Risk vs reward.

I don't want to necessarily say fun, but perhaps rewarding in paying that kind of respect to architecture and aesthetics by bringing an old home to life and then passing it on.

Individuals who change jobs frequently, but who are nevertheless able to earn consistent and predictable income, are also considered to have a reliable flow of income for qualifying purposes.   

Other than that, each house is individual.

I personally wouldn't buy anything unless I could fit it into that strategy because the risk/reward doesn't make sense when compared to cash.  

I have a few low income rentals I bought a couple years back. I have someone who is interested in buying one house as a private home. Here's where it is getting complicated:- I bought the houses in a package but still...

A true hard money lender is loaning on the property, not the individual so if your deal is straight the money should be there.