A measley 100 dollars a door, 1200 a year does not make one wealthy.

In my area we have some of the most wealthy people in America so rents tend to be higher than other type of areas.When I look at the cost of buying an old one they come with baggage and it's expensive to fix baggage.

The new developments that are coming online are catering exclusively to the ultra wealthy.

You should be a very wealthy man James!

And the realtor lobby is even more powerful and wealthy, so they'll likely place significant roadblocks in the way of that becoming reality. 

Wealthy street and easttown is a cools area to live. westside, Wyoming, Kentwood also good areas to invest.

I live in a wealthy area of Columbus and feel like I could be surrounded by potential private money, but have no idea how I could go about trying to raise it without looking like a desperate salesman trying to dig into their pockets.

The property I'm referring to has been meticulously maintained, no mortgage, owner was wealthy and recently passed away in his 80's and now the kids are in charge of selling and want to maximize the sales price on the MLS so it's not a one on one negotiation.It's a 16 unit with average rents at $400/month and market rate is $800-$895.Let's assume all cash purchase so mortgage payment isn't a factor and use 50% rule for simplicity:$400×16×12 = $76,800 gross rents50% rule NOI = $38,400At $1,000,000 asking price the cap rate would be 3.8%If you can easily increase rents to market at $850/unit:$850×16×12 = $163,200 gross rents50% rule NOI = $81,600At $1,000,000 asking price the cap rate would be 8.2%If comps are selling at a 7% cap rate the sales price of this property could sell anywhere between $548,571 using actual NOI and $1,165,714 using market rate NOI.Clearly you shouldn't pay $1,165,714 based on unrealized potential, but it's also clear that the sellers would not entertain $548,571.

One of my old brokers (he is very wealthy) would build low rise, mid rise, and high rise condo buildings to keep.

With stocks, you make money when you sell (other than with dividends but no one gets wealthy off of dividends), with real estate you are making money off of the asset the entire time you own it AND you make money off of it when you sell because you have been paying down the loan and the market has appreciated.