I had to purchase a dishwashing machine that was a fraction of the cost because it was damaged but you couldn't see it since it was a dent that was hidden when you installed it under the countertop. 

I think I was more driving home the point that PM's bring a lot of hidden value in that we prevent things from happening that cost an owner money because we have the right documents/systems in place.

Here is a BP Blog Post I wrote about the Memphis, TN market you may find helpful though written with multifamily in mind, most of the remarks apply to single family as well: Best Multifamily Markets and Hidden Gems

I wouldn't say that spending precious life time to drive around to get lucky is a strategy I use anymore, since the competition uses faster, better and cheaper tools and will pick up that gem way before you see it.

Later you'll follow up on al your sources to find some hidden funds you have access to that you don't realize right now.

I'd definitely be comfortable with those numbers because the actual expenses are not 50% of gross rents, but because with that built-in cushion....I'd have the unused money set aside for non-planned emergencies, evictions, and other hidden surprises that always come up with being a landlord.

There's a lot of hidden deals and gems around this area especially since there are several colleges and Hersheypark being such a large attraction.

After spending lots of time on various Real Estate investments websites/blogs, seems like I finally found a gem.

I asked my supervisors for old leads (2+ years) and found some gems but it does take time and a lot of telemarketing.

Absolutly NO Menards grade "updates" in this gem.