Some items to consider are accessible path of travel (gravel is not going to cut it), potential elevator, potential historical preservation involvement, and the biggest issue is if a business can garner enough clients to cover the cost and still make a living. 

There’s still 4 billion people in the world who do t have access to the internet.

Using your analogy with the 2/1, you need to find it for lets say ~130k and it needs 70k worth of repairs/remodeling to give you an APR in the 250-300k range and make sure you can rent it for >2k a month. in order to make the greatest cash flow you need to find the most rundown houses to fix, or go on the less desirable areas. unfortunately that's where the majority of investors are as well. i'll give you an example of one i just completed. it is in an up and coming neighborhood. some parts are scary, while new construction of luxury townhouses are within a block. it's a duplex with a 3/1 and a 2/1 (i know i said i wouldn't usualy get these, but it was a really good deal).

Just make sure to check with your local utility first so they can still get access and approve the added security measure.

If you're unconfident of identifying them, bring in an engineer.One of the biggest issues you'll run into is fire blocking.

Accessing hidden equity is an important tool in any investor's toolbox.

Are you hiring it out or doing it yourself.The cost of doing it yourself is a couple of cinder blocks and cement.

Oh right, the property is in the new west suburbs of Chicago a block away from the "downtown" area, a few blocks from a good hospital (Grant Cardone anyone?)

You should be able to access the very same funds through your IRA, no?

This is important because realtors keep their job security by forbidding access to the MLS.