Other than that, if you are saying that you thought you were buying a 5 bedroom, 2 bath house, but in reality you ended up with a 3 bedroom, 1 bath house, my advice would be to pick a different investment vehicle. 

The reality is, within a couple of years, after multiple evictions, vandalism, vacancy, etc. they are beat up and sell at a massive loss.  

It will be nearly impossible for a bank to give you a loan to flip a property, I wouldn't waste my time waiting for that to come to reality.

Talking to real people with real numbers and properties in your area really turn this "idea" into reality. 

The reality is there are only a hand full of basic issues that can arise. 

If you are only observing it will give you an idea of what prices are reality for the area and how people bid on the properties. 

Reality is welfare recipients have no consequences. 

CivicDashboards seems like it may be a great place for worst case scenario calculations, but if it's > 10% off of reality, that might be so extreme that it would keep you from closing on any deal. 

For example, watch for sales that are being postponed for bankruptcy and then watch PACER for a motion to allow the sale - at that point the homeowner is out of options and reality has hit home.Hope that helps.

But the reality of it is a conventional lender will not lend you the $ if you don't have an income.