Was this a purely cosmetic rehab?

I know agents who spend upwards of $10k a month purely on marketing, not including association fees, mls dues, etc.If you are competitive, driven, and willing to put in the time, hustle-you will be fine.

>>>BUT<<< every dime you make is pure profit . 

I have friends and family that would be willing to make up the other 20k for a purely cash loan if they could make a return on their investment for little work.Basically I would offer them some sort of return on their cash.  

Yes, we discuss it in investment terms here, but only the "already wealthy" generally are using RE from a pure investment standpoint.

(Unless his proposed 4plex is for pure investment purposes?)

It also shields the landlord in the sense that a third party is involved so the tenant can't try to strongarm you, it's pure business.

BE PURE and TRUE to yourself and you will know which ones will help you grow and which ones will drag you down.   

If you pay full cash at 120K and you expect 1200 per month.Lets say that 1200 per month is pure profit and you have no expenses, not insurance not property taxes, nothing.  

Keep other ventures that are purely for investment in your LLC.