I always research the local market, compare properties, estimate expenses, and build a reserve fund.

CO MT WA AZ FLA TX are the markets I am funding in..

They come in with a different name usually acquired by buying out a small/mid company, wipe the market with unlimited funds backed by fed and big banks, dry the pool and leave when there is nothing left. 

It is my understanding that people refinance and then use those funds other ways (personal living, investing, some to buy another property) as a means to minimize tax obligation. 

Is it dependent on how you get funding?

If I put my money in the S&P 500 index fund, the annual return is about 10%.

If property is done right even in todays market you can hit 1% rule and attract very desirable college students.

If first time home buyers are having a difficult time coming up with the funds for even the costs to play as a first time home buyer then are the non profits supposed to pay the buyers agent commission too? 

Doing a 75% 1st mortgage and 15% heloc or heloan would likely give you better cost of funds all around.If this is an investment property, you can do 80% cash out refi using NonQM loans such as DSCR loans, but at a higher cost/rate than if you stick with 75% loan to value. 

Or do you want to be a part owner with a group of people like in a fund or syndication?