Quote from @Carson Hyland: Even if you buy the right property, failing to manage it well will kill your cash flow. 

I'm open to properties were cap rate is around 10%+ and Return on Cash is 10%-20%. 

I'm struggling because the first 3 homes I bought were homerun off market deals 3-4 years ago w/ great cash flow and appreciation. 

If we were not able to raise the price of our homes by 20% or more we would had to stop.. my LORI plan started at 600k sold two of them and made our normal 100k net.. last loris I sold 36 months later went for 850 to 900k and we made right at 250k NET on those ones.. so it was very specific to plans that CASH buying empty nesters wanted ..

Run the comps, calculate repair costs, and plan multiple exit strategies so you maximize every deal—whether that’s wholesaling, flipping, or holding for cash flow.

Once you have cash in hand, you can unlock the unit for 24 hours and let him move his stuff out.I would also consider charging an additional deposit of $500 or something, just to prevent him from leaving all the trash or stealing your refrigerator.

A lot of waterfront is cash/near cash.  

He was a realtor based in the Midwest (I think the greater Chicago area) and was talking about off vs. on market deals and the importance of choosing equity over cash flow. 

Now to the bad news: it is REALLY hard to be a 20yo real estate agent and make a living wage, let alone generate cash for a down payment.

Here’s why Oklahoma might be a great market for you:Affordability: Properties in OKC and Tulsa are often under $200K and offer strong rent-to-price ratios.Landlord-Friendly: Simple tenant laws make managing rentals easier.Growing Economy: Job growth in energy, tech, and aerospace fuels rental demand.How to Evaluate Deals:Run the Numbers: Ensure positive cash flow, check cap rates (6–10%), and use tools like the BiggerPockets calculators.Find Deals: Network with local wholesalers or agents, and look for value-add opportunities in stable neighborhoods like Edmond (OKC) or Broken Arrow (Tulsa).Let me know if you’d like tips on analyzing properties or finding deals!