Is NOTHING sells for a refi appraisal price  I  mean nothing that appraisal is always high.. so when folks say hey I got a refi and it appraised at this and I now have this much equity that is also not true and wishful thinking..

It’s true that freshly renovated properties should have lower maintenance costs in the first few years, but this doesn’t account for unexpected expenses.

I've met a handful of true PMLs. 

The problem is this time of the year does not have much turn and the units available are not representative of your true competition. 

Quote from @Zach Edelman: Are you planning to occupy the property as a 2nd home or as a true vacation home?

Is this true?

That is true, a lot of people if they don't at least attempt to be good at their job or at least be consistent they will also fail in other fascets in life sometimes.

That said, I completely understand your concern about deals looking "too good to be true" when you’re putting in 50% down.To avoid this, it’s best to analyze properties as if you were using more traditional financing (20-25% down).

That is where the magic happens and where true connections that can enhance your journey are made.

I also question whether this $700K six unit is a true 10.5-11% cap.