It sounds like you are doing everything correctly. 

It is their job to follow the correct steps.

Given, it's probably in a good market and run correctly, you should be able to rebuild a 5 Star business if you are on top of your game.

So, if you fail to apply the correct assumptions to a property, your expectations won’t be met and it may even be a financial disaster.We use the following to rank Property Classes, in order of importance: Property Tenant Pool: closely linked to location, but not always.

This heavily depends on whether there is currently a loan on the property.If this is set up correctly, the seller should be able to sell part or all of the seller financed note to cash out within a relatively short amount of time.

You are correct, this is a standard form application that allows the lender to collect your financial information to assume and establish a risk profile.

Also you shouldn't be counting on agents to tell you if a house is valued correctly or not, if you can't determine that on your own don't buy anything yet. 

You are 100% correct, if they are making all this money on hotels, they wouldn't be/wouldn't need to teach.  99.99999/100 times, the "gurus" make a majority of their income selling a dream rather than creating the dream. 

I've seen (via my PM company) that the southside c and d class properties can be lucrative if managed correctly.

Correction: Private Money Placement Trust.