Be willing to accept criticism and revise.Step 2: If you make it this far, you will have undergone a brutal self-assessment. 

All are undergoing/have undergone further development in their downtown areas.

I agree with Chris Clothier on this it is highly unlikely this has undergone a true turnkey renovation. 

soccer has undergone gentrification"

When that happens, I'm thrilled that there are good home inspectors out there who will call them on it and ensure that the buyers are protected and know what they're getting into.But, like others on this thread, I've had my share of inspectors who will find things that don't exist (I can think of a couple reasons why this might happen), who will make mistakes (everyone makes mistakes, but they can be expensive when an inspector does it), or who will go out of their way to try to justify their fee.I'm a big believer in just fixing everything that comes up on a home inspection (I want my buyers to feel comfortable that they're getting a great house and that I'm providing a great product), but when inspectors screw up -- accidentally or on purpose -- it can significantly impact my profits.All that said, there are some great inspectors out there who would never purposefully misrepresent a finding, and those are the ones who are probably good enough to find real issues, even in a house that has undergone a great rehab.

Recently because of Obama and bigger government HUD has undergone many changes.There are now multiple MMR companies handling different parts of the country with their own set of rules.On an broker/agent forum I frequent the new system is absolute insanity.It's like coming out with a new computer operating system that has 1,000 bugs in it when the old one was streaming along perfectly.The brokers and agents are having fits with the new system not recognizing their offers,canceling them,showing active when pending,getting assignments when they are already assigned etc.All I can tell you is these types of items are simply out of the brokers/agents control.HUD does have owner occupied periods but as an investor you can still submit your offer but it won't be considered until after that time.Just submit it again.

It's in good condition, has undergone a minor rehab.

All in good areas (I do not invest in the ghettos) all have undergone renovations, are now tenanted and producing positive cashflow.

Then why is the Justice Department continuously investing it:Competition in the Real Estate Brokerage Industry//UpshotOur review suggests that although the real estate industry has undergone a number of substantial changes in recent years – in particular as a result of technological advances such as the Internet – competition in the industry has been hindered as a result of actions taken by some real estate brokers, acting through MLSs and NAR, state legislatures, and real estate commissions.

While determining the value of a unit (pre-rehab) might be easy (using recent sales comps within the building), what is the process of determining your ARV if none of the units have undergone updates?