I've generally found anything under $500/mo after debt service + management is not worth the time because that slim a profit margin's too often lost on unexpected maintenance or other factors. 

@Ellis Hammond - that was a tough pill to swallow, but we pushed through.

If someone cannot pay their taxes in 5 years then it is slim to none, not that it can't be done, that it won't be redeemed within the 6 month period. 

And doing this has a limited amount of possible buyers as well if you are only selling to rehabbers and landlords, getting a chain of buyers really slims down the profits in a hurry.

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.