"But the department estimated similar excess capacity in 2004, when the last Base Realignment and Closure (BRAC) round was approved.

I've helped my family in some capacity in one way or another in our flips.

I don't know how many real estate transactions you've done or in what capacity.  

You have to split the commission with your broker in some capacity but I have a flexible arrangement and get to keep a majority of the commission. 

The issues that I have seen arise include modifications of loans that really should not have been modified and modification terms which really do not improve the Borrower's capacity to pay or perpetuity of payment.  

At what capacity could I us a hard money lender (If I could even find one??).

The cap rate was on my calcs, not the current owners.Conservatively, and based on the area market, the total rent revenue should be at 2400 mo. 50% capacity, or even just the 2 larger units rented continuously, will pay the bills and keep the emergency fund ready. 

Am I correct that you are involved in some capacity with a house that has significant water or mold problems?

Get to the point where you have an intuitive idea for what deals look good, so that you can pass on the 99% of mediocre/crappy ones, and only investigate the attractive few.You need to learn to value deals better than the realtors, because their incentive is to complete a transaction and move on, unless you have a demonstrated capacity to do several deals in the near future.

Lot rents run 500+ minimum and are usually at full capacity.