Everyone has thier own preferences but I prefer to concentrate on volume rather than huge checks.

In order to understand both sides of the investor brain I'll play devil's advocate here:Assuming that everyone wants fast sales wont' apply to someone renting, holding or purchasing for tax deferred gains with 1031's.Also, some prefer to focus on instant equity by negotiating a much higher volume of deals but making out with 40% instant equity when one closes.This capital can be freely applied to targeted purchasing (entry method) which, in turn, informs the exit strategy.At core, it's a personal decision based on the business plan of the individual executing the transaction.

I'm just concerned about the lack of storage space at this one (for lawnmower, etc.) and that the huge volume of leaves may be a turnoff to applicants.

I think the fact you are even considering compensating him for the fact he isn't going to be able to sell this deal speaks volumes for your sense of fair play and your integrity. 

The trade off is that the tenant quality is much lower (not to say that there isn't a large volume of renters) and the potential for appreciation is lower than if I were to invest in a nicer area.

I think when you bring more volume to the table you should be rewarded.

We've purchased a few so far this year but it can be tough to build a consistent volume just doing reos.

So a CPA that handles volume work for personal tax filings may have different knowledge level than a CPA that mostly represent investors. 

Here is a summary of what I have gleaned:Building Attributes: one level, ground floor, elevator in multistory buildings, no steps, universal design, wider doorways, smooth floor coverings without throw rugs, chair height toilets, hand rails, grab bars, bathroom near bedroom, laundry in unit or close by, good lighting, less square footage to take care of but enough to comfortably move around and to entertain visitors, close to bus stops, close to medical facilities, close to activities that interest seniors, garden, front porches, backyard patios/decks, quiet, warm, safe.Landlord Attributes: respectful, attentive, face-to-face communication, willing to adjust speaking speed and volume as needed, willing to do things for tenants to keep them off ladders and step stools (change light bulbs, hang pictures, etc.), willing to adjust policies and procedures to accommodate needs (alternative ways to pay rent, use of telephone instead of texting, etc), genuine interest in seniors' wisdom and legacy, willing to check in on the safety and well being of residents, willing to assume responsibility for yard work, snow removal, and keeping outside pathways clear of debris, willing to help tenants connect with community services as the need arises (cleaning help, food prep programs, senior services, etc.), service oriented.

But understand a basic fact....reo volumes are about 10-20% now of what they were at the peak.