Thus, they will contact every owner they can that has a rental being advertised, hoping the owner is tired and just wants to dump a headache of a property for 60-70% of market value.

I have a property that I could sell for somewhere around 400 K with owner financing.

She put a portion of the down payment (15K)...and of course there is a little equity...

The current owner has to dig the floor out and replace the floor to meet spec.  

Sometimes you have to bring a little more cash, others a little more effort.

That is part of the problem with a lot of companies (I am not knocking insula as dont have all the info/facts just stating how the business works), they engage brokers to get them loans and the brokers collect a small fee. unfortunately many of the brokers may be similar to real estate wholesalers - have little to no experience. 

I am a CT based investor, flipper and property management company owner.  

For owner managed properties like this we see expense ratios in the 35%+ range. 

2) Buy a few out of state properties over the next few years, through a well vetted turnkey provider like the one I mentioned above, which should more or less break even or give me a little bit of cash flow, and since I'd end up with a few doors my risk would be a little more spread out? 

Short-term rentals of non-owner-occupied properties will also require a special use variance which is obtainable by starting with the completion of an application in the Zoning Department."