After three years I sold it and barely made a profit.

I would think it'd be pretty simple to calculate his actual rent income based on the properties current conditions and explain that at best, the tenants in place stay for years to come, he continues doing the bare minimum, and his highest predicted income is x dollars, barring any emergency spending to keep the tenants happy.

We have had such a terrible time finding tenants that they changed us to a guaranteed rent model, which at least we are cash flow positive now, but barely.

Most folks barely have an advantage in their own market - let alone other markets. 

I did not bother trying it out as I have found that most of the products Realtor.com offers are pretty bare bones and don't offer enough customization for my needs, but it is worth listing here as an option. 

One option may be to do a Streamline 203k and have your contractor do the bare minimum to get the home up to FHA standards, and then you can do the rest of the work yourself? 

Even if I go up to 50% equity, and zero out my vacancy factor, cost to lease, R&M and CapEx underwriting, I barely turn a profit (a few hundred a month).

Since you are just graduating college you may already realize that it's not what you know, but who you know (as a personal note, I had college friends that were barely passing their classes however they ended up with really good paying jobs due to "who they knew").

Since you are just graduating college you may already realize that it's not what you know, but who you know (as a personal note, I had college friends that were barely passing their classes however they ended up with really good paying jobs due to "who they knew").

I went searching for her and I barely got anything I found the sister that signed her rights over but she didn’t know her whereabouts a phone number or anything and it seemed like they don’t stay in touch cause this lady didn’t have anything for me and she knew who I was and remembered the transaction but no info on her sister.