The flipper sold for a delta of over twice his declared expenses and I suspect made significant money on the his ADU addition (but was not hands off). 

Break-even for the water heater was $450 cost delta/25= 18 months.This really has no immediate bearing on the OP's dilemma. 

I've seen super low day 1 caps (~ 3% - 4%) but if there is upside via value-add to bring up the caps and capitalize on the delta, returns are pretty good. 

Maximize cashflow via STR (hoping to get 7-8% net)Second question, with these goals which would be the most attractive area for such an investment: Miami Beach, Miami Downtown, Brickell, Midtown.Thinking of getting 2 condos (1 bd or 1bd + den) ~$750-1M eachPayment structured are usually 30-40% until project is completeThank you find undervalued land and entitle it and capture the delta of underpriced land. there's a lot of sites that are underentitled.

When there is enough delta between new rates and previous rates, lenders do a sort on properties that have changed hands but have not been paid off.

Got tired of getting laid off- down sized(u gotta love corporate) and being just over broke all in the name of job security-LOL.Living in LA but" have sky miles will travel".

Rent the place and have a delta of -$2k per month I carry each month.

But the delta between $143K asking vs the "at cost" seems too much for me.  

A lot of Delta Air Lines employees opt to live south of the city for easy access & less traffic to reach the airport.

Delta Airlines.