Get started and I can guarantee you after a deal or two your whole perception will change because you've gained a little experience.

The previous owner was a Hoarder and I am sure probably had so much stuff piled up to the ceiling to where if their was any leak to be found, the damage would already be done....there was KILZ sprayed around numerous areas of the property (both bathrooms, kitchen underneath cabinets, in basement area underneath where kitchen is located. 

So I've noticed something while scouring through numerous amounts of listings online.

@David Ward  Take a look at the Networking Events forum for a meeting tonight (Thursday, Jan. 19th) that you will find of value in numerous ways.

A home inspector should be able to check wiring, plumbing, foundation, roof, raydon, among numerous other things.

I appealed the appraisers estimation of market rents, citing numerous listings from Craigslist showing that fair market rent was much higher than current rents.

It was 1961 when a very perceptive Cuban decided to leave his home as he saw the communist writing on the wall with the new government. 

Thanks for the mention @Andrew Cordle I recently wrote a blog for Bigger Pockets on my perception of the different asset classes.http://www.biggerpockets.com/renewsblog/2014/06/28...Thanks for reading and have a great day.

On the flip side, how else would one numerically evaluate properties if not for a formula much like the one devised for calculating cap rates?  

I have walked away, from many potential acquisitions just because the Management Company provided me unique, real time insight that I factored into my numerical analysis.