If you have a B class property statistically a score of 650 should be a bare minimum.

I suspect 99% of the US population is like me, which is the answer to your statistic: "the correct person only picks up 1% of the time".   

Check unemployment statistics for the area.

Investors get caught up in "programs" or conditional lending from conventional financing, banks, institutional lenders and the secondary market that are under regulatory restrictions and prudent lending practices where enough loans have been made to provide a statistical basis for lending guidelines to be followed.

Take your pick of mean or median income, depending on statistical distributions and what-not - but that is what the cap on rent will be.

However, if you were to look at statistics, you would find that this is only partially true.

You read the unemployment statistics but until you see the effects of the economy for yourself you really have no idea!!!!

As far as flipping strategies buy right and then also price correctly when you sell.As a real estate broker new product doesn't come on the market every 30 days it comes on the market every week and sometimes daily.Knowing that what buyers want is the best product at the most reasonable price.They don't want a crap hole to live in just because it is cheap.So when rehabbing if your budget is stretched pick 2 or 3 things that will pop and catch the buyers eye that say QUALITY.Also in this market a price drop every 30 days won't cut it.As a broker we know from statistical data that 85 percent of activity occurs in the first 10-14 days on the market.If recent sold prices range from 40k to 50k I want to be in the bottom 50% of list price 40k to 44k with a great product.If I have given it maximum exposure and nothing comes in drop the price every 7 days until it sells.You want to always stay ahead of the pricing curve and chasing the market down.It is the number one mistake made by all sellers.

This particular broker is easily the biggest commercial broker in the area, the local MLS statistics show him having the highest gross sales in the region for the last 4 consecutive years.He said that I may place my license with him and work part time.

You won't read great statistics about the areas, but everyone I know who has gone to check them out has ended up buying since they feel comfortable.