Relative didn't pay the mortgage for three months in a row, My Dad had no clue, this was 1990 before computers and instant info.

This isn't a recipe for success in this connected  and instant communications world.I am sure you are thinking of other social media methods of communication, but, talk will never go away!

Dillon, just to reinforce what a couple others have already said, look into a duplex, triplex, etc instead of the townhome.It will give you instant experience in real estate investing and the rental units hopefully offset or reduce your out of pocket mortgage expense.

USP would be instant approval on a non recourse loan, minimal paperwork and no credit scoring. 

Insurance companies will pick that up instantly and not pay out on small or massive claims if you don't have your documents lined up correctly.  

It seems like instant cash flow.

So now they want the instant gratification without effort because life keep moving faster and faster and the goods will be delivered to them with just a click of the mouse.  

Here in Denver, CO, most sellers seem to know that their properties are valuable, and buying property with instant equity (at 80% of market price, for example) seemed very unrealistic, given the fierce competition for every property on the background.  

I don't plan on having instant listings or anything, but I do want my name to be easily thought of when people do think about listing in this neighborhood.

simply...... because this place, with these numbers don't work. there is no equity, there is not going to be any equity for some time to come because the market in new york sits pretty still, and there is no one living in the place right now to get instant income from. obviously, no one live there very long anyway because it is vacant and this guy has only owned it for 4 years. in any rental situation, you can factor in a 25% vacancy rate as well, meaning at any given time, you will have no one living in there for 3 months of the year. $226 per month times 12 months of the year is $2712 per year. factor in 3 months of the year with no income at $950 per month, and your total years profit is gone. i would run the other way on this one. find another deal. they are out there