It'll take a full remodel of the bottom floor (it's two flats).

They said they don't charge any points, they only have a flat interest rate.

I would at the very least find a dirt cheap flat free agent so it's on the MLS.

Tereal,I also love love duplexes (2-flats here in chicago).

Unless you are arguing that CA people don't invest to make money in real estate then you have to admit that CA has BETTER cap rates.Cash on cash for a property in Indiana that has seen flat rents for years on end will have an initial advantage on cash on cash rates over CA. 

The consultant cost a flat $3k (.08%).  

If you find a distressed property, noting says you can't charge a 10% commission or a flat dollar amount, simply explain it's a tough property to move and that it requires more work. 

Identify neighborhoods of middle income homes reaching maturity, market demand is flat and rentals begin to creep in.

But  I'd do the vinyl laminate in the bath with simple flat wood transition into hall (poly and stain the transition too as you can buy bare wood lengths in bulk).. 

Since you are investing for the first time, so in this case buying a flat in residential apartments would be a better option instead of buying a property.