Hard money is mostly for flipping properties or using it as a bridge money for a temporary solution if you need more time depending on what type of trouble you get yourself into.

For fix and flips, the best finishes depend on the neighborhood, target buyer, and your budget.

Net Income: 100k~ depending on overtime workedHere is a breakdown of the potential property we would be looking at buying as a long term investment. 3 Bedroom, 1 Bath, 1000sqft, attach single car garage, fully fenced property, needs no work and would be in a state of immediate ready to rent.Purchase Price: $289,90020% Down payment: $57,980Mortgage Rate: 4.5% Amortization: 25 YearsProperty Tax: $3185 annuallyBi-weekly Mortgage Payment: $592Rental Details:Monthly Rent: $2600Mortgage: -$1184/monthProperty Manager: -$260/monthLandlord Insurance: -$105/monthProperty Tax: -$265/month15% Put Away: -$390Leftover: $396Does something like this make sense to jump on?

Depending on your taxes and insurance rates in your market, these could be a little higher for you.

But depending on the magnitude that home price range would have to go lower. 

@Roger Garner the strategy will really depend on what level of involvement you want in the project.

To buy a lot outright its usually around $150k or so, depending on area of town.

It depends on what's in your contract.

These losses depend on the layout and geometry of the system (ductwork, piping, etc) and the insulation used, the ambient temperature that these ducts/pipes are traveling through, the temperature of the air or water/glycol mix etc...  

So for $400 they can buy 1% and depending on the rental rate of those homes, they receive the applicable % of the monthly cashflow as passive income.