In general,newer is better.Unless you're talking about historical homes in special historical neighborhoods,a 70 year old home is gonna be worth more than the homes pushing 100 years that are probably long overdue for massive repairs and remodeling (new plumbing,rewire the electrics,new roof,water heaters,etc.

I would use the term Profit/Loss to talk about the total difference at the end of the year...Certainly your points with percentages pertaining to repairs, vacancy, and capex all hold water. 

I am not sure if this applies but I have heard others talk about sub2.  

The vast majority are owned by large corporations and won't talk to you even if you do manage to find a name and phone number.

If you have questions regarding real estate investing, property management, or just want to talk shop... hit me up. 

Talking to other investors is a great help!  

If you can figure out a way to get the owner on the phone or talk to them in person (ask neighbors if they ever visit the house) that is going to be your best bet.Don't give up, though.

I think I am starting to figure this out due to all the great help here on BP and some great books on SDIRAs too, but just want to make sure as we are some serious talks with a motivated seller about our next purchases.I understand the concept that when I use leverage in the form of a non-recourse loan in a SDIRA that their will be tax due on the percent of profits that are *related to that financing*.

Needless to say, they were not happy with my revised offer based on the real numbers and the deal fell through.When I did the due diligence, I went and talked to every tenant (there were less than 20) to verify the financials, walked every inch of the property to look for needed capital expenditures and deferred maintenance, talked directly to the utility companies...

Also would be good to talk to about fix and flips in the county.