Depending on the lender (bank or alt. lender) you have to look at origination fees....points, doc prep, interest rate, frequency draws are allowed/min. draw amount allowed per request, interest payments vs. interest reserve & whether interest reserve is capitalized to fully understand the true cash requirements.

Which was true. 

This is true if it has good initial cash flow or poor initial cash flow (Like my San Diego market).Good luck

It helps being willing to talk to sellers/get on the phone and talk to folks in the real estate space in general but the most important thing in my opinion is being an honest and true person.

I've read at least half of the books published and I don't think that's true at all. 

This is true regardless of the country. 

Same would hold true in a beach environment in the summer months. 

Quote from @Zachary Deal: Choose neutral safe tones and get nice materials but don't splurge too much on very fancy cabinets, counters, appliances that someone else may not value the same as you.This is so true.

Is $107k your true net, or do you have any other expenses (mortgage, taxes, lodging taxes and fees, insurance, utilities, landscaping, WiFi, etc.)?

I have never found a true 70% deal.