See theolivejar(dot)co for her website.She is an LA-based STR designer who has helped a lot of clients get to the level they need to.

I don't remember the exact cost when I did it but I remember thinking it was cheaper than expected.I didn't see a comment mentioning that you should just include utilities in the rent and increase it based off that so I'll be that guy.

Even with that, I think we will still be way ahead. 2 bed, 1 bath, 1200sq/ft, detached 1 car garagePurchase Price: $38,000Repairs: $20,000ARV: $96,000 (based off Zillow, but a local real estate agent thought that was pretty accurate)Mortgage: $430Insurance: $55Trash Included: $25Rent: $1,000We are now going through applications for our first tenant. 

Based on what my mortgage broker told me a couple of days ago, these rates are in the low 7%'s, whereas the secondary home loan is low 6's.

For example, an algorithm can't compare a property that charges a flat fee for utilities vs one that charges based on use. 

I recommend that you find a trusted or recommended Mortgage Loan Originator (MLO), who can give you options for property-based loans (mostly investment loans) and they don't use your taxes but the P&L of the property.

Across the board, the worse the neighborhood, the better the cash flow, the better the neighborhood, the trade off for tenants base, better schools, low crime, etc etc.

There is a house at a foreclosure auction that has a subordinate security agreement based on the national stabalization program NSP through NACA.

Real estate is not my of my knowledge base at all but I want to start working on building passive income now (I’m 44). 

I mainly want to ask if these assumptions are reasonable and if there's anything I haven't considered:(1) multifamily units in NJ close to New York City, ~$1,000,000, 20% down payment, (2) Using the following assumptions: 4% appreciation rate, 6.5% interest rate and 5.0% refinance after 5 years, $10,000 yearly maintenance fee(3) ~$6,000 monthly rental and assume 3% increase yearly with 5% vacancy rate(4) Based on the above, the calculated IRR if selling at the 10th year is ~19% (considering tax benefits) and ~17% (without tax benefits).