(Actual %, friend is a realtor/manager, gives me a great rate on properties I buy through him if they're in a good area)10% Maintenance/Repairs -- ($165/mo.)NOI -- $12.4KCash Flow -- ~$40/mo.COC -- 3.5%Cap Rate -- 8.6%Total ROI (Including Principal Paydown) -- 45% in first year (goes up in subsequent years with additional principal pay down)I think I did well for a first buy.

How much the buyer subsequently puts down does not change the quality of the deal.

In New Jersey lien go over $5K to $10K premium hoping that investor will have chance to collect 18% interest and penalty on subsequent payment.

There is a five year ownership rule that applies to investment property initially acquired in a 1031 exchange that was subsequently converted to a primary residence. 

The fundamental guiding principle, which guides the initial purchase and all subsequent purchases is what has made Warren Buffett so successful and what you can use in real estate as a basic foundation to your analyses and purchasing strategy.

@George Smith, that particular problem will go away, if your rehab is so good that your Lender's subsequent appraisal becomes $146k+, rather than $130k.ie.

It was in very poor shape & the majority of offers included the need for conventional financing that subsequently denied it based on the poor condition.

Examples I've heard: appliances taken from the property because a buyer stopped by and told the seller they were buying new ones eventually (appliances were across the state before the buyer realized this), sellers staying beyond their delayed occupancy window because the buyer told them they weren't moving in immediately (liability issue), buyer stopped by the house before submitting an offer and talked to the seller, subsequently giving away their top dollar and negotiating power. 

You might put into your option contract that you have rights to market the property and to recieve and approve/deny all subsequent offers.

Granted, there are variables that would influence and subsequently guide each member towards a different strategy but if there's some basic advice you can offer that would be great.