Was undervalued by any stretch of the imagination.

I don't think a bank letterhead is necessarily required... but I would imagine this lender would submit a proof of funds that appears to credibly represent their available cash.

I can imagine the meeting needs to include a time period dedicated for mingling, maybe a subject for a speaker to talk about such as finding deals, funding deals, connecting with other investors, etc., and also food and drinks would be a plus. 

If I sold a 95k home I would imagine I would put 88k or so in my pocket.  

I can’t imagine doing anything that would risk pissing off a great agent & having them not want to work with you.

Yes indeed, having lower vacancy is a major benefit that can more than cover the initial cost of the upgrades.In my area, upgrades are not expected although I imagine they are welcomed.

Hard to imagine anyone penciling profit off of these numbers even with skyhigh rents.Location: North of San Francisco Project: 145 units. 

We grew up on an acreage in a rental house so my sister, brother, and myself played outside a lot which helped grow my imagination and being able to think in creative ways.

I'd imagine it doesn't run indefinitely.

Imagine naive sellers giving their tenants the 'boot' and the property falls out of escrow 1, 2 ,or 3 times and it does happen.