I have STR investors in Florida making 25% cash on cash returns, long term rental investors picking up properties directly off the MLS and cash flowing day 1 in various states, and house hackers completely removing their housing payment from the picture allowing them to save for for the next property.The beautiful thing about real estate is there are so many ways to succeed and a plethora of strategies depending on your comfort level and how active you want to be.

I believe Pricelabs is offering a pricing strategy and market analysis info more in line with hotels, and that might be a good tool for you to look at.

Maybe do the by the room strategy, or STRs.

Network with local investors, undertake extensive due diligence, and develop a clear exit strategy.

It requires a solid understanding of real estate finance and long-term strategy

I see a disservice being provided in the given example by the real estate agent by not bringing creative strategies on both the sellers and buyers position on this particular deal.

It is most important that you have a clear understanding of the type property and the strategy you want to use (FLIP, LONG TERM BUY AND HOLD, STR, MTR).  

There are several hurdles during the process:Find the deal - Unless you are marketing or plugged into a community where there are opportunities, it isn't always easy to find the right dealsEvaluate the deal - Without professional guidance and research tools, it is difficult for a newbie investor to evaluate and ARV/FMV or create an adequate rehab budgetSecondary exit strategies - If things don't go as planned are their other opportunities to exit profitably.

Look at their marketing strategy.

I would trade the 7.5% I am chasing with my "barbell strategy" (of 40-45% commercial real estate syndications) for a 17.5% return gained in active investing.