This is why I was asking how lenders (I should have said appraisers) value these properties if they aren't performing.

Knowing the long term gain in rentals will out perform flips.  

Usually when those conversions happened utilities were not split properly especially since no building permit or proper inspections of the quality of the conversion work performed.

I would highly recommend @Rob Drum in who's a high-performing agent in the greater Birmingham, Alabama area.

Machine learning is not a means by which to evaluate or perform analysis, be it financial or other.   

Anyone have recommendations for gathering general economic data, things like stock performance in past years, job growth in different places, REIT or syndication performance.

You can be sued for specific performance, or you could be sued for damages if the eventual sales price of the property is lower than your contract price. 

I had a friend who got a paint kit and apllied to his rental and it looks beautiful.

In the medium to long term I think it will benefit note investors by increasing the supply of non-performing notes.

If you're living in a home that needs considerable work, your living quarters will not be in the best shape.The beauty of it is that you don't have to do all of the work yourself but you would be able to do some of the work, thus saving you money.