As a broker in a wholesale market, I "buy" a loan from a lender at a discount and mark it up for my profit.

The right property manager will take up majority of the workload for managing tenants / maintenance and everything else. 

All of the multifamily I have looked at in my area are not profitable due to prices being much higher than rent currently.

In southern Florida I fund and profit / loss is 50/50.

I'm managing D class properties with a property manager and am making a profit. 

Like I see how it could work in a perfect world but i cant wrap my head around the idea that I could be making a profit if I still don't actually own the house and still have to pay down all of the loans.

After analyzing the potential ROI, we negotiated a fair price of $58,500, ensuring room for renovation costs and profit.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

I can't see but maybe the wooden piers are sitting on sonotube concrete piers embedded in the ground which might change things.What I would do is get with a few major local lenders and maybe ask them what they would need to make sure the little studios (that is what I would call them, not yurts) are maximized for value.

When you look at a property make a list of all major capital expenditures roof hvac etc.