However I am running the issue now of determining the true value of the property. 

You cant just say "rent is 1% of purchase price" as if that somehow makes it true.

If it sounds too good to be true 😉.Also - billboards in most areas are crazy regulated.

12 month because it gives you some control over when vacancies happen (you can also do whatever month number will put you in a good position), for example if a unit goes vacant in winter it is harder to fill and may rent for less while the opposite is true in spring.

In a true downturn many of the people who've been "waiting for the downturn" won't actually buy because it is scary and the argument will become people trying to catch a falling knife.

My layman impression is that if both of those points are true, you get contact info on the heirs, update your files, and continue to deposit checks.If they are not paying, the key is to find out who the executor is.

I was trying to get some clarification regarding whether or not we could replace some 1/2" water pipes with 3/4" by ourselves, but he made it sound like it had to be a licensed plumber to even do the basics like replace the sink and bathroom vanity if it's not homesteaded.Is that true? 

@Michael Veloso what you are saying is true and how wholesalers make money.

There is a strong sentiment that to be a good buy and hold rental deal it must be a cheaper off market deal.. is that true?

It’s true anyone can sue you for anything, frivolous or not and it can easily happen.