It is an unfair business but that’s the way things are.If you do not have ample financial resources, underwriting, broker relationships, equity partners and balance sheet (for loans), you will be swimming upstream forever.For the exact reasons you’ve mentioned, newer Sponsor’s have a tough time cracking into this business.

And the purchase price of 1-2M fits within my budget so happy to hear that it’s attainable to achieve my NCF goal.

It is going to come down to the numbers that work for you, and the best management you can attain before you do anything. 

They are very informative, and contain ample information. https://www.biggerpockets.com/blogs/

Since this property type is considered Residential, there is ample financing available. 

Hello Christopher, I sent you a message regarding a good local contractor with ample networking that would definitely be worth your time looking into.

Hi Gang,First time posting here, but I’ve been listening to the Bigger Pockets Podcast for a while now, and I’m part of a family owned rental property business.Here’s my “dilemma” that I’m hoping to get some feedback on:I’m looking to branch out from my family’s portfolio and purchase my first owner occupied 3-4 family property in Boston, and while I have ample money in the bank for the 20-25% down payment, I’m self employed and have not made enough consistent income in the past 2 years to secure a 30 year fixed mortgage.

Do you believe interest rates are low enough still to attain those?

Then in addition, your lender may require 6 to 12 months of reserves and then in addition, you will want to have cash reserves in the bank after close to pay for unexpected expenses and or capital improvements to the property.Bottom line, figure 35% to 40% total so $350,000 to $400,000 for every $1,000,000 in purchase price.The primary way people get hurt with real estate investing is to get over leveraged and under capitalized.So when you buy, be sure you have ample cash reserves in the bank.Hope this helps.

In my opinion that makes the list price difficult to attain.