This is true if the rent pays for maintenance, taxes & Interest.If the rent pays for maintenance, taxes, interest and some part of mortgage then it's better than 24%.If the rent pays for maintenance, taxes and you have to pay for mortgage and interest the return will be close to 6%.Property taxes and Maintenance are not fixed cost they increase with time like rent.

If it was true, then there is a way. 

Whether your statements are true or false, whether we have evidence to support or deny a claim, it will never be something blasted on the internet.

Also, real builders/experienced developers will often have a true technician, i.e. a civil engineer, architect, real estate attorney et al at least glance at the property info to make sure there are no major red flags.

Why does this seem too good to be true? 

Maybe it’s making the world a better place, maybe he feels responsible for all the employees who have jobs that make their dreams and hopes come true?

Like I said, the calculator is telling me it's possible on some that I see on market now but I'll have to see if that is true in reality when I run the numbers with a lender. 

the ONLY true way to reserve for sub to melt down is to have the money in the bank to pay off the offending mortgage full stop any thought of trying to refi etc is just wishful thinking sellers credit will get hammered while you go through the process.

The greatest profits are in properties that can be repositioned to a higher and better use, or appreciate the highest over time, or will throw off a TRUE cash flow of 20% per annum on total investment (cash + debt + capital investment). 

It’s true that while the 10% down payment for a second home sounds appealing, the fact that rate adjustments are now similar makes the distinction less about cost and more about strategy.A few years ago, I helped a couple in San Diego navigate this exact decision.