I think your NAR quote is probably right as we weren't developing from 2008 to 2011, but it probably applies more to select markets where there's been less building recently (strict building codes/difficult to develop/geographically constrained) ...

The common street address is is not the legal description. 

Youd do well to pick a geographical market that you are working (your "farm") and systematically driving the communities and get to know every street by driving in your car first, noting where the problem activities are, etc.Then define what a "deal" would need to be for another buyer or for you to use your money and keep.

It will also have the property legal description and any exceptions to the title policy.

@Louis Mannikko From your description, it sounds like you plan to get the 401(K) loan to BRRRR, correct?

I really appreciate the input regarding including some description of the mix.

Even if it did get bid up a few thousand dollars, I think it would still be profitable and worth it (depends on who you ask though).I'm geographically familiar with those areas I lived in South Euclid and Lyndhurst each for a year.

HOC: Atlanta Property Condition Report Item Description/Condition Item Functionality Functionality/Test Notes_____________________________________________________________________________________________________________________ Cooling/Air-Conditioner: Damaged --Heating/Furnace: DamagedHVAC tested and functional?

Prepare a metes and bounds description with survey of the two separate tracts.

http://www.tomferry.com/blog/dominating-a-geographic-farm/