How you view things has an effect on your desire, drive, enthusiasm, etc...

I'm definitely confused as I do not want to get properties on contract without knowing if the deals are desirable for buyers.

Decide if you want high cashflow or building equity/safety as your most desired trait.

This allows us to drop off the selling commission if we so desire.

Even though it is only a rental, CURB appeal impacts people's desire to want to rent it, and thereby you able to get a little higher rent.Also, Appraisers are human as well.

Since you mentioned they aren't in very good areas they won't have strong owner occupant desire either which is the only hope to get more of a markup.How did you determine your guess on FMV beforehand?  

Desirable.  

You just have to identify the properties you find desirable and how much you are willing to pay, then hope it actually goes to sale (and isn't postponed or stayed) and then hope you can get the winning bid below your max bid number.

Keeping in mind that your house's layout as a 4 bedroom is less desirable so probably on the lower end, all other things being equal. 

A cookie cutter  approach to rehab may lead to poorer quality but by the same token too slow rehab isn't desirable either.