They often attract a poorer quality tenant and usually having a lower standard for tenant screening and tenant behavior..........thereby creating slums.It's so true that someone will call you a slumlord (often behind your back) pretty much no matter how nice your rentals.

When you get your first REO listing, you will be expected to provide a quality and accurate BPO.  

Finally the CAP does not tell you anything about the quality of a cash-flow, just its cost relative to its peers.So if you had a 100-unit property in Manhattan with a CAP of 5% in might be delightful, but one in Toledo with a CAP of 5% probably is not .... furthermore, using CAP to compare these two properties is dangerously meaningless. 

My big question is does the property need any repairs & would is the quality of the neighborhood?  

Just like anything building up a quality network of buyers takes years and years and people are not going to share those lists as they are worth a lot of money to transacting deals and guarded relationships.   

After seeing the property and how low-quality the addition is, I realized the it's not salvageable and needs to be torn down regardless.

Hard to find an end buyer for such a home.Maybe suited for a foreign trophy home investor.ThanksLooks like a quality rehab would run north of $200k.  

Those that really don't know should really say so instead of attempting to be seen as if they do, not only can you get people in trouble, you make it much harder for those who do know to correct statements to ensure the quality of information on BP.

As your flipping business grows, you can start setting aside the rental quality properties.

I KNOW there is plenty of demand for well located quality homes on the peninsula and thus that is where I focus.