I think what you describe is pretty much standard performance for rental properties if your not paying cash and I am just assuming your putting max debt on them to try to get your return numbers into your criteria..

Success depends on the individual.

Never heard of him.Make sure you perform proper due diligence.

But, they have ZERO liability for the performance of that tenant.Second, 97%+ have no idea on how to screen a tenant, other than income = 3x rent and a credit score.

This has been the most successful model I have seen in real estate.This goes 100% against every guru and investor the past 5 years of get rich quick of buy, rehab, rent and refinance with little money - that video game is out of order so the gurus need to reinvest themselves and they are trying with seller financing and zero down.

They want success and don't want to do any work. 

Aaron I would not pay but if they wanted to have this added I would have a licensed electrician perform the work. 

I work with a property management company in NJ and we see a lot of success with our clients holding long-term rentals. https://www.tvdhousing.com/Welcome to BP! 

People most successful in all aspects of real estate investing and the real estate BUSINESS, gain knowledge and experience n three areas: (1) real estate principles, (2) real estate law, and (3) real estate finance.  

A private investor will want to see a few successful deals before taking out large sums as a debt loan.