In terms of Charleston appreciating 26% in the past 2 years, you're extrapolating long-term results based on short-term trends -- a logical fallacy.

I usually try to get the original contractor to fix before bringing someone else in BUT it depends on how bad they've screwed up - is this an incompetent contractor or is there a logical reason? 

A: no you didn't, you took it in a small car that was easy to handle and easy to park.Apply the same logic to REI.

I do see your logic there by using the money for another property.

Logic would say if the return is the same then go with less tenants but curious of the pros and cons.Any input is appreciated.

It is a logical city for investors who are already betting on Texas as Houston, Dallas and Austin get most of the attention.

Getting a deal on an REO is more about timing and strategy than logic.

Some key aspects of their business model logically may need to be confidential, but the vast majority of what you need to evaluate the deal should not be.  

I'm basically paying people to take up my time to watch them - it's such an absurd concept, but every investor does this, AND think it's normal and logical!

First, lets try a method that makes logical since, instead of some ratio calculation.