California's own nexus rules regarding physical presence could easily be used against them in this case.

Market value is meaningless when the bulk of the return will come from cash flow and when the resale of the asset will be to another investor who will be holding for cash flow.I have a feeling Ben will agree with both of these statements above (correct me if I'm wrong, Ben)...So, Bob, if you're going to argue that cap rate isn't a good measure of return for one particular type of cash flowing asset (in this case, single family rentals), you're going to have to justify it better than just cutting and pasting someone else's ideas.Please tell us why you (not others) think cap rate is suitable for analyzing/comparing the return of all other cash flowing assets, but automatically breaks down for single family cash flowing assets (or if you think it breaks down for other types of cash flowing assets, please tell what other ones it's not appropriate for).To say that a mathematical model breaks down based on the physical configuration of the underlying asset (one unit versus many units) doesn't ring true for me.

Physically check in with them.

My Columbus agent physically checked on the property, spoke with few tenants, will be getting officially appraised and inspected.

REI with poor reserves should prioritize cash flow.good luckFor those without significant reserves, they shouldn't participate in physical asset speculation.

Doesn't matter if they had a key and didn't physically break into the place.

Do whatever you want, but if you were my friend or family meamber, I would physically pull the signing pen out of your hand and tell you to WAIT!

How this works is once there is an accepted offer, you will do a physical walkthrough of each unit. 

One of the best managers around here is a woman, and practically the only manager i'd ever consider getting anywhere close to managing properties for me.I hate, hate, hate physical rent collection and have almost entirely outsourced it to a local small bank who will let people come and will deposit it to an account of ours.

That said, if you do get them and you choose a "fancy" front loader washing machine I would post some rules about leaving the washer door open, physically drying excess water off the door and drum, and any other instructions to prevent mildew because those units are evil and you will get mildew stains when your tenants leave, especially if they're used to normal washers.