Great amenities, great photos/drone shots, great design.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Two weeks is a decent amount of time to wait, but if you haven’t heard back, maybe give them a call.

The condo is a pretty decent condo, even though there could be a few upgrades here and there.

Than I thought it was all the things that could go wrong in the flip, hidden gems like K&T hidden in the walls, shot main-lines, etc.....   

When you have studied your market properly you should be able to provide the answer of if single family or residential multifamily is better for cash flow. 1% rule was for a time when almost all deals were decent as a way to rule out the lessor deals and concentrate on the best deals.

to your point, if you save up so that you're in a strong financial position, house hack a solid duplex in a decent neighborhood, make smart decisions, and hold it indefinitely, you'll be fine.conversely, if you have $0 and somehow start out with a risky flip, or borrow $20K and spend it all on a magic mentoring program, or buy a terrible property in a neighborhood you've never been to, you may not be fine.

You can throw that $550k into an annuity (or similar) and get a decent (and very safe) return.

So I'm always able to offer a lower rate and make a decent living without charging points.

You'll need at least 125-150 doors to make a decent living, but you won't be able to afford much help.