Only sources of depth in information I could find are YouTube videos from agents.

Loan "guidelines" are what banks or brokers must fit your deal into to satisfy the actual money source and they all make up their own rules.

San Pedro-Waterfront developmentInglewood-stadium, NFL Network, proposed NBA Arena, Jr PhilharmonicGardena/Hawthorne-overflow from Inglewood and tech...theres about 5 breweries between these 2 cities and cool places like Base 51 (bar, food, race car simulator)

@Todd Rasmussen do you have a source on the face to face law?

Every market will have investors who are willing to pay less than the market cap and investors who will only buy if it's higher than market, but the average investor in that market is going to pay that cap rate.Large national brokerages track sales and cap rates from those sales and can be a good source for generally reliable market rates, but the reality is that there is no one source with the exact (agreed upon) cap rate.It's very similar to residential in that it's not an exact science.

He then let me know that no obvious sources of a leak are known of in the home and no evidence of leaking is happening, but the high water bill is an indicator of a leak somewhere.This brought up a fundamental question that I wanted to put out to you and learn from you on:  if the tenant pays the water bill (it is in their name with the city) and there is  SUSPICION of a leak, who's responsibility is it confirm (and pay the fees that would be associated with confirming and/or finding the leak)?

There are multiple ways you can go about it, and you should reference multiple sources to verify what you find either way.

Sourced through a number of wholesalers and real estate agents.

Best source for this question if you really want to be technical is your broker (but I could see why you wouldn't want to approach them) or an administrator of your association. 

They will tell you the spread they charge and the source of the data that you can easily find online.