As an example for employment, do you give more weight to employment growth, employment rates, or something like having a primary employer in an area that's not likely to go out of business?

The ability to get access to capital may out weight the cost of the appraisal.

The true differentiator when determining price reductions is the amount of listings or inventory on the market.

Regardless of which one you are, you will receive the 20 percent reduction of profits under the new plan.I'm not trying to pick nits here, there's just a lot of bad info out there on LLC's when it comes to taxes. 

With that being said, a good wholesaler is worth their weight in gold.

I would give major weight to markets you already know in some way (for example, maybe family or friends live there and you've traveled there a lot over the years).

We’re seeing a huge uptick in price reductions and inventory is also way up.

It is not like investing in S&P500, REIT, or joining a syndication  You already mentioned to loss of privacy and reduction from existing unit (loss of yard, garage, whatever)  does it still sound great?

Their prior landlord only speaks Spanish, and we don't, and I cannot verify the owner via assessor records because it is California (CA doesn't have address search), so I can't put much weight on their six years of prior rental history.  

My guess is that you are not including principal reduction in your calculation and are using a simpler calculation that does not included equity.