But these days, it’s hard to find decent properties where the numbers work as far as covering the debt service with rental income. 

This often leads to frustrated tenants, and unhappy tenants rarely stay long.

NJ also now requires landlords with homes built before 1978 to get a lead-based paint inspection before a new tenant moves in.

They offer 10k skiptraced leads.

Reaching out directly to investors, agents, or property managers can also lead to great opportunities.

If you have a lot of equity or if you bought the property when your credit score wasn't great (leading to a high interest rate), then it might make sense. 

If you are working with a reputable company, then you buy the property, hold the property and look up 7-10 years down the road and have a home that has increased in value and a debt that has been reduced by your renter.   

This probably implies FIRE in his 20s, but I hope he is passionate about the path he has chosen and excels at it until at least a more traditional retirement age.He started the 2nd rehab he is leading.  

At the end of the day, 5% of $80 is more than 2.5% of $100 and the fee models used in the industry will sometimes lead the listing agent's to go from being the seller's advocate to the buyers.

If it's simply cash flow--irrespective of hard assets-- then you're better off buying some form of debt.