You have to be consistent with it as well.

My brother lives in Sydney (I'm an ex-pat Canadian with strong ties to Toronto and Calgary) and I can tell you, long-term, Canadian/Aus/NZ cities consistently rank high on the most livable city lists.

Usually i'd say stick to the lease, be consistent, and be firm.

However, in my opinion, the best median to acquire motivated sellers, is the median you can afford to do consistently over and over and over again.Generating motivated sellers from my experience is not a one and done thing or a whenever I need a motivated seller I will use this product or service. 

Let's say, on average, a new home of the same type is selling for $45,000 multiply it by 10%, means I should deduct $4,500 to get to my final ARV.Any thoughts?

The resulting gains are tax free if held in the OZ fund for 10 years, but that original investment must consist of capital gains from the sale of an investment such as real estate or stocks.  

As for the consistently late paying tenant...HAve ALL tenants fill out an estoppel.....and have ALL tenants sign YOUR new lease and include the late fees.

My prep consists of continuing what I'm doing now.  

I don't know the costs of something like that in my area and I've been consistently looking.

I agree that some margins are smaller than others but we are still consistently picking up property that investors are making money on.