Because there aren't many other small MF comps in the area the seller's financial records will be even more critical.  

I also plan to spend at least thirty minutes a day on this website learning as much as I can about real estate investing.Any help / suggestions / criticisms welcome Thanks in advance,Dustin Michaels

So in the book I'm going through (Monica's), it talks about the BPO as the most critical part of the short sale.Some research and googling has this sentiment echoed everywhere; you want to meet the BPO appraiser at the site, show him all the problems, make sure the value comes in low.This is doubly serious in the short sale I'm looking at to propose (the homeowner has walked away and was planning to let it foreclose as he no longer has an income), which has all kinds of issues and honestly is only a reasonable deal if I can get it for way below market value.But my real estate agent says that there's no way to do this- that the lender gets a third party appraiser who sends someone out who has the lockbox code, who can show up at any day at any time and whose name they don't give us.

An attorney who does real estate closings doesn't necessarily stay current on SAFE act considerations, and other matters critical to your situation.

The quality rating of the property is critical in determining an investment.

The appraisers pick comps with the snap shot of sold properties at that time in the market so generally you want your lender to understand this critical valuation nuance because you dont want to order an appraisal when the comps are not conducive at producing the value you "need," to complete your BRRR.

A couple points I will make in support of your response is:A shady house can often be indicative of a shady provider, which could affect things like: their assessment of the neighborhoods they offer properties in, realistic rentability, and realistic numbers....all of which are critical for a successful investment.The quality of the PM is absolutely critical.

I agree with @James Cooley - Driving around to get a sense of the areas is critical. 

Very grateful for the critical information that I would've missed.Everybody thank you so much!

I've skimmed enough of it to get the basics, but I'm focused on getting geared up for 2017 at this point and trying to absorb what will be happening for 2018 is obviously critical and will happen just as soon as I can get some time to sit still for more than 20 minutes, but 2017 is closer to front of mind for me right now.I also just bought a flip.