So while it's kind of a pain right now, I think it's not a bad thing for MTR operators - especially new ones - to have to do this kind of deep dive.

Back to my original statement(which was meant to be a simple overview, not a deep down analysis) if I am purchasing and I can finance with a low interest rate and purchase a property that has a high CAP rate, it is a good investment.

I was used to doing deals in jackson MS and Birmingham so I was a little shocked when i saw the as is price there in Charleston.. 6X or more higher than other parts of the deep south.

- when I dive into the deep due diligence, am I most likely going to find something that crushes the deal and makes it not feasible?

I suggest to make deep research about the location and risk or ask experts personally before take actions. 

Groups like to advertise the "wins" on their websites, but they aren't showing the current losses and deals on the brink of foreclosure.Find an actual person in your market, who has actual and deep experience to partner with on your first few investments. 

Personally, we are diving deep into buying and operating businesses that potential to conservatively achieve 20%+ cash on cash returns.

I'm now 80k into this property with deep regret looming over me.

At least in the deep south were there was not a ton of appreciation and the new product was selling for basically the same as used houses. so for the 12 new homes i bought to the tune of 2.5 million by benefit was the 50% tax right off for Go Zone day one and those were my high earning years before the GFC so that was the benefit just for an investment not so much benefit..

I havent bought any myself but I have a friend in CT who is knee deep in Tax deed investing.