If I spent $1 million and bought say a vacation property somewhere in San Francisco (or any other city for that matter), then, for whatever reason decide I need to sell the property.

Most of the folks working at the office say a variation of 'Its a bad town to be a small landlord' due to their relentless protection of tenants.

However, they say a 17% Cash on Cash return because if you have a mortgage in place you will make more than the cap rate.

@Shari Posey, @Aaron Yates may not see your message since it didn't hyperlink, but he should see mine now.He knows his suburb best, but in general in the suburban Detroit rental markets I'd say a $750 rental would cost around $25K - $40K today depending on its attributes

when I go to close a deal with letss say a whole sale.

They say a sucker is born everyday, I think it's more like a sleezball is born every second.

You find, let's say a duplex, that is in "horrible shape"!

I say a good neighborhood because many of my tenants have family close by and a support system.

I am a novice, so this may seem a very basic question, but why is it that a quick Google search shows a given rate for today, for say a 30 year fixed, but then I get quoted .5% to 1% higher by the lenders?  

I always say a bigger shark will eat up a smaller shark a store may no longer sell a product when it goes out of business but if the demand remains another store will step up and sell that product