He seems entertaining, just the numbers the rep stated, unless there's some sort of rebating makes very slim margins (I could be wrong). 

Cash flow of $1,000 a month for a 4-plex is pretty slim so it's possible to see how this could end up with the bank.

Side note: Be careful with hard money lenders.... a lot of them are a little "slim-shady" :) In all seriousness, there a lot of people that don't operate in a method that is actually helpful to business, but rather prey on uninformed people who are just getting started, which is why I recommend referrals as often as I can.

@Lane Kawaoka is also correct, CF in these markets are slim to none unless you purchased awhile back, at below market prices, or do something like STRs (There may be other strategies available, but I'm not too knowledgeable about that). 

With that being said, the chances of getting offers accepted on decent property at 70% of retail are pretty slim in a sellers market.

Multi family properties are not on there very often so you'd have to check the MLS, but with such a competitive market right now the MLS is very slim on good deals.

Next to using  your own money, it's the fastest way to get capital for purchasing properties.If it's a somewhat maybe not great deal where there are slim margins if everything goes right, then I would not use it.

There's slim to nil chance of seeing deals even close to that in the UK (unless I'm completely blind to them)... maybe I should move to Chicago...

The median home price in Belmont is $29,300.There is also the Petosky-Otsego neigborhood, and Van Steuben, Fishkorn, Warrendale, etc...These areas are not comparable in any way to the best zip codes in California...As Slim Shady once said,,,There is a Reason They Call it Amityville.Good Luck!

Hopefully they are slim to none :).