For the $500 or so it costs to do an inspection, we've been able to walk away from places we've had in contract that would've cost us tens of thousands or more to fix when some really big fatal flaws were overlooked by our very well meaning Realtors. 

Keep in mind that LOC interest rates are typically adjustable, impacting your long-term holding costs.

And mortgage rates at the time.

I will say, all of my insurance rates have gone up significantly and I'm terrified for next year.  

Depends on interest rate?

When a great deal comes up, and everybody else is looking at comps, evaluating cap rates, checking leases, this guy is researching arcane chain of title links trying to find an overlooked heir from 1934, or a long abandoned mineral lease.

I also cannot imagine companies with hundreds of units getting better than 4.9 out of a 5 star rating. 

And the good news is they go away in the future against higher taxes and tax rates.

Most likely best interest rate.

We have little knowledge about the area and hope to get some advise from your local pros/investors regarding the cap rate, vacancy rate and NOI for such property in a C to C+ neighborhood.