@Maegan Quaife, Of the 4 prongs of the Internal Rate of return 2 of them are very high for you - cash flow and amortization of the loan. 

However, if you have the time and prefer to source properties on your own, I would highly recommend the following strategies:Connect with probate attorneysVisit property auctions: These happen monthly and, surprisingly, aren’t saturated with investors.Cold callingTarget LLC owned properties: Over the years we have seen an influx of companies purchasing SF for rentals/long-term holds and they failed to account for property taxes and an increase in new construction coming to the market.

.: Quote from @Tim Delaney: That seems odd to me assuming you aren’t in a highly negative cash flow situation.

Yes - you should be able to find some good DSCR Loan Options with 20% down easily - 15% down potentially available but the rates/requirements are pretty high on that front right now

Of course I was aware there was no curb and gutter at time of purchase and that there was an easement in place, and which hadn't been exercised since year the properties construction in year 1960. 

We paid ours off when our balance was $125k, but on a 15 so payments were fairly high at $1732 PI.

Given your residency limits, the high prices in NYC and surrounding areas are a challenge, but there are still options in neighborhoods further out within your allowed range, like parts of Queens, Brooklyn, and the Bronx.

Adjusting for it allowed him to realize his property’s ROI was still positive but not as high as initially hoped.

@Joy McQuearyRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

For instance, someone making $500k a year and living in a very highly appreciating market might be extremely happy on a deal that loses $200 a month but is getting 5% appreciation on a 2 million dollar property in San Diego, butut that doesn't make sense for the investor with 30k and a lower paying job.When it comes to the book series I agree with you that the order doesn't make sense (having read both).