We also have monthly BP meet ups (sadly I usually miss these).

Thanks.”Does buyer’s agent ask for best and final offer usually?

100% financing is tough...even for private lenders, unless there are compensating factors (great track record, proven successes, strong reserves, great credit score...maybe even good job/w2 income (usually not a factor for non-bank investment property lenders, but may be for a private individual)). 

But if the market Cap rate for this type of properties is 8% Cap (what properties are usually trading for ) then the value would be $1,250,000.i hope that makes sense.

Agree with @Chris Hopper ....It should be a manageable cost usually on most houses ( <$10K often). 

Agree with the others saying if you plan on returning getting back in the market is usually tough.  

Hard to say what happened but there are usually two types of faucets, push or or thread on.

To quickly evaluate a a deal where there is no asking price, I usually look at capex required, adjust the property taxes (based on comparable sales) and perhaps play around with the vacancy and reserves.Is there anything I am missing?

I'm told, most of these homes are under water, but usually the bank try to sell at around or near the mortgage.

@Conner Parsons a usual @Dave Foster is spot on - in fact I would defer to him on pretty much anything 1031 related.