I don't believe there is a common practice, its going to be dependent on local standards.

Could be an agent you work with, someone you partner with on a deal, a contractor who can give you advice on projects, or just someone you met and clicked with at a local meetup or here on BP.

v=u79Lxf1GKjE   Here are some videos, For your referencehttps://www.dailymail.co.uk/news/article-13211931/Washington-landlord-serial-squatter.htmlhttps://www.the-sun.com/news/10829162/eviction-housing-washington-protest-squatter/https://www.foxnews.com/media/seattle-area-community-protests-con-man-squatter-leave-rental-house-exploiting-systemhttps://www.dailymail.co.uk/news/article-13211931/Washington-landlord-serial-squatter.htmlhttps://www.mirror.co.uk/news/us-news/community-protest-con-man-squatter-32386211https://komonews.com/news/local/bellevue-landlord-plans-protest-rental-home-eviction-notice-tenants-rights-nonpayment-rent-123rd-ave-se-housing-justice-project-hjp-writ-of-execution-court-state-legislaturehttps://twitter.com/choeshow/status/1769071379658551783https://x.com/choeshow/status/1769570234556641427?

Always learn a lot from you regarding local market knowledge and broader RE.Question to all,I'm new to this concept. 

Research local economies, population trends, job growth, and infrastructure developments to identify promising markets.

From talking with a few local folks my take away is the numbers published is the very highest amount you could get and isnt always what you will get. 

Is this a commonly successful approach given the local real estate and rental market dynamics?

I own and operate a local firm here in Green Bay.

Common culprits include poorly sealed wax rings, dry traps from leaks or non use, and localized clogs that vent sewer back into the room. 

Local investor and investment focused mortgage broker in Middletown.