Not that anyone should count on appreciation; just an illustration of how easy it is to hit well above paper market rates.I'll see if I can find a link to an online resource that compares the two scenarios. seems like schwab or TD had something...

This is definitely an extreme example, but it illustrates the point.

If you believe he has something of value to you and you can meet his needs than sell your experience by presenting him with illustrations of properties you own or have flipped as well as your assessment of the market.

Thank you @Bryan Hancock Your advice is what I was trying to get at only you were able to illustrate it more eliquently and precisely.

See the illustration below.On the right is the order in which most tenants select rental properties.

First thing out of his mouth "darn these machines ae HEAVY".Sorry you took it as condescending but it illustrated the point, find a cash based business to start.  

Though this did not lead to an investor for me, it does illustrate what you need to do. 

The best illustration for this is that plaintiff will not get access to your personal residence if the assets of the rental are not sufficient to satisfy the claim from the lawsuit.Set your LLC in the state where your property is located for best advantage/protection and to maintain the corporate veil. 

I've provided you with quantitative examples to illustrate why it's a bad idea.

Here is what I mean:(Examples may be exaggerated but used to illustrate my point)If you don't stain the cabinets you can get say $1900 a month in rent, but after doing some research you find that if the kitchen was a tad more updated you could rent it for $2100 a month, what would you say then?