Which was true. 

This is true if it has good initial cash flow or poor initial cash flow (Like my San Diego market).Good luck

Depending on the lender (bank or alt. lender) you have to look at origination fees....points, doc prep, interest rate, frequency draws are allowed/min. draw amount allowed per request, interest payments vs. interest reserve & whether interest reserve is capitalized to fully understand the true cash requirements.

I've read at least half of the books published and I don't think that's true at all. 

It helps being willing to talk to sellers/get on the phone and talk to folks in the real estate space in general but the most important thing in my opinion is being an honest and true person.

This is true regardless of the country. 

Same would hold true in a beach environment in the summer months. 

Is $107k your true net, or do you have any other expenses (mortgage, taxes, lodging taxes and fees, insurance, utilities, landscaping, WiFi, etc.)?

I have never found a true 70% deal.

House hacking is the best tried-and-true method for new investors in my opinion.