Even including modest appreciation and equity pay down, the ROI is between 7% and 12% for a non passive holding (not good for an active holding)I can easily afford this level of negative, but do I want to?

Depending on how upscale your finishes really were, you could have that built in this market for 300 to 325 per square foot fairly easily right now.

But you can easily contact your servicer (who you send the monthly checks too) and they can assist. 

Their filter is way to strong as well as you cant say if a property is not accepting section 8 and can't use the word glass.  

My only hurdle is the fact that I don't know the Real Estate Investing industry that well, so I don't know where or how to find the right documents for my wholesaling transactions.I've began generating pre-foreclosure leads, which I am able to filter out just ones with high equity, owner occupied, and no auction date, yet.

It's easily the number 1 savior i've seen in multiple of my clients.

Your tenant's friend will probably just draw it from whatever nearby circuit thay can tap into most easily.....So running a new 14/2 cable from the main panel will probably not be easy unless it is really close.

The reality is many lower rate offers have a higher price or are $hit properties, but not all.If you are paying extra for owner financing make sure that the discount rate easily justifies the purchase price.  

They also have a good understanding of different lenders' appetites, and thus can save time by filtering out lenders that won't be competitive. 

If this property is near the beach or near downtown area, the appreciation potential could be extremely high and it can be easily over millions.