Is it just based on networking or do they include an educational component also?

You can have positive NOI but negative cash flow (think:  debt service and an unexpected roof replacement costing more than the NOI throws off). 

Unexpected cash calls, short occupancy periods, higher and higher turnover costs are very common when investing out of state - especially when the buyer is looking for higher cash flow.Cash flow is a calculation.  

.—(1) The landlord at all times during the tenancy shall:(a) Comply with the requirements of applicable building, housing, and health codes; or(b) Where there are no applicable building, housing, or health codes, maintain the roofs, windows, doors, floors, steps, porches, exterior walls, foundations, and all other structural components in good repair and capable of resisting normal forces and loads and the plumbing in reasonable working condition.

The mortgage insurance component will also go away once you get to 20% equity.P.S.

I still have some very important components to this team I have yet to meet,  but I plan to do my due diligence and maybe even meet someone here on BP.  

Investing $300k to split $75k is not a very good return - this is also assuming that nothing unexpected comes up causing the rehab costs to increase and the market holds level.

Thanks @Chris Mason would the rate be lower if there was no cashout component?

Get comfortable with all the components, data, and formulas needed. 

Everything looks good when it’s on the other side of the fence but upon closer examination you usually find an unexpected issue that you didn’t plan for or have never really given any thought.