I am learning so much every single day, however I feel a little nervous to jump in. I

The area I live in is a more rural area with not a whole lot of deals/opportunities presenting themselves on a monthly basis. 

Which markets are you focused in? I

Purchased, rehabbed and moved in. I

With the example above I would be able to have the property for only $7k all in out of pocket when all said and done vs over 19k out of pocket/$23k all in.  I

The market I am in is very fast moving, and I am trying to take Brandon Turners tip of writing an offer expecting to negotiate so that we can go under contract.

What city is it in?  I

Mainly use realtor.com and TAD to see what houses are going for, as I don't really trust Zillow's valuations.Sorry I forgot to mention what I'm interested in ..I forget there are many different ways to approach REI.So, perhaps naively, my desire is to purchase SFR, trying to capture 10-20k in equity, and generating positive cash flow each month.I'd like to get my feet wet with 1 or 2 homes ..see if being a landlord is something that I can cope with, and if so, fairly rapidly bring on another 3 or 4 homes.

At what condition the subject should be valued in is really the question, right?

I agree Ned Carey and since the majority or properties will fall in that category, most will want to follow that.For example, the building I own, manage and live in is probably not subjected to some of the fair housing laws.