The numbers may look good on paper, but the reality is very different-lower quality tenants, higher turnover, more problems and less money than you'd expect as a result.

Quote from @Tiffany Henning: I am in the same situation but ultimately will most likely go with Seth Williams because it is not necessarily a money-making funnel for him but more his heart to help. 

You can purchase this with a low-money-down FHA loan. 

Slowly and surely, you will make a lot money.

In those days it was possible to locate and tie up a “killer” deal, and close the transaction with absolutely zero of the investors own money.

Right now, the best offers around me are for some 1.3-4 million, that only generated around 100k per year gross, so there would be a high chance of not cash flowing, and paying money, especially with a commercial loan (these buildings have more than 4 units).I was thinking that although the rental itself does not generate money, I would be able to deduct the mortgage interest, and depreciation from my personal w2 income and would be net positive.

Alternatively, I could explore hard money lenders.

But I didn’t need to worry–they had a lot of money!

It's slow money.

The investor would buy an ugly black box that produced money if it was the right price.