Agent's are not actively trying to sell the home and provide feedback on how to make it more competitive.

Seriously,you need to find a local contractor or building inspector to show you all of the actual problems that need repairs.If the plumbing and electrical haven't been upgraded in 100 years,change it all out immediately before they fail in the middle of winter.Make sure your HVAC is excellent as well.That roof probably needs tending to as well.Then you need repainting,spray foam insulation,flooring,etc.What fixtures is your competition for renters using in their homes?

Short-term rental market- 10 years ago was less competition, now more and more people are renting short term and lots of advertising sites for vacation rentals.

Also, tertiary markets that aren't as highly competitive often offer better deals.Even with cap rates currently compressed, rents locally are going nowhere but up.  

@Joshua Howaniec I agree with Claire, however, the response rate of 8-9% on yellow letters is likely in lower competitive markets.  

I have done hypothecations of entire notes.. this gets you to the same place and same security but does not fractionalize and thereby create a security ( which is above my pay grade to know if it is or not.)I think the bottom line is though buying non performing NOTES especially seconds on owner occ properties is a very advanced investment play and very dangerous for the beginner.. who does not have a good basis of RE knowledge going in..

Then, with limited time, check for IRS liens and have your title rep  pull up liens for each property and correlate results.I do not like auctions because they promote competition!

GR is a very competitive market.

Do not be in a hurry, inventory of residential property is very low and very competitive rates get now.  

The inventory is kind of low right now and most things in real estate are very competitive.