I don't know about any other members, but I receive no compensation whatsoever for any general knowledge information that I offer. 

He is probably of the impression that having real estate investments, managing them, and acquiring them requires no skill whatsoever. 

Many bank sites just have a few properties and can be a pain to use> In our market, after FNMA and HUD, the largest REO owner is Deutsche Bank (big issuer of sub-prime and alt-A mortgage securities) and I don't believe they have anything on-line whatsoever (and they have a reputation for mismanaging their properties and being ridiculously difficult to work with on transactions.)

The source of our data is a division of First American Title called Core Logic or RealQuest (we have no affiliation with them whatsoever).They are the industry standard for real estate mailer data for all types of real estate, in my opinion.

No landlord hassles whatsoever.

Do you have any experience whatsoever in owning investment property?

On a first deal you are cutting your teeth and should leave this one the way it is. 

Because honestly who cares if the property has a 10% for expenses, if debt servicing is 80% then you just took it in the teeth. 

I would just like to second @Justin SilverioJustin's quarterly event and the Black Diamond event have no selling whatsoever.

We tend to be quite conservative in our assessments, factoring in loan/tax/insurance, estimated annual maintenance/repairs, vacancy allowance, and property management fee (even though we self manage).We do not budget for appreciation whatsoever in our assessments, tending to view any potential appreciation as a "bonus" if it comes to be.Using those numbers, we are still cash flowing $400+ per door after PITI and allowance for vacancy/repairs/prop mgmt in the SFH space, less so on the duplex (primarily due to the terms of the note which has a quicker pay down).