Those values are not indications of the actual home value. 

You buy some low, some high, over time real estate goes up (Past Performance isn't indicative of Future Performance...blah, etc.) but in general, our economy is driven by fiat currency and hard assets are good to hold.Some UW changes:-Less Leverage/More Equity Down-Higher Exit Caps-Less Rent Growth-Ensure a Discount to Replacement Cost-More Capital Reserves-Greater Focus on Sensitivity Analysis

I have had smart investors indicate the rehab value add is simple and I proudly admit that it is.  

I've been doing STR's for over a decade now and financially they can be extremely lucrative if you purchase in the right areas you can easily expect 3x the long term rental rate (if you find a good enough deal which is hard to come by today), I've also pondered getting a HELOC to purchase more, however, I'm in the same mindset as you that there seems to be quite a few early indicators saying we'll be seeing a market turnaround here soon.

The photos seemed to indicate a property in very good condition with no major defects, both units were tenant-occupied with 2-year leases in place, and the gross scheduled rents were very attractive for the neighborhood. 

18 repairs for 3 units in 6 months is a little high but I have experienced worse and as others have indicated there are a lot of variables. 

A persons ability to mange their own money before starting a business is a pretty good indication of how they will manage their businesses money. 

I actually didn't know you could indicate this on Airbnb until now; and holy cow it was hard to find that setting!

The fact they are complaining online might be an indication the property manager dealt with them properly so be sure to ask the manager for their side of the story.7.

The fact they are complaining online might be an indication the property manager dealt with them properly so be sure to ask the manager for their side of the story.7.