Let’s say a painter at $30 an hour multiplied by eight hours equals $240 dollars a day.

Note: Massachusetts is one of those rare Corrupt States that does not allow Title Companies to facilitate the Closing .I understand the whole process such as Municipal Lien doc and pro rated division of Taxes and so on and so onThe Broker is trying to say a Lawyer must be present .I say the Broker and Lawyer can simply go play with themselves , and if you want a Lawyer present, you can pay the worthless dirtbag from your own funds.Note , I have been involved in numerous Closings in the past, thou not in Massachusetts and have prepared more than one quitclaim deed in my day.Has anyone done a closing in Massachusetts without using an attorney ?

I would say a property that rents for $500 would need to be purchased around $25K, but as the rent increases, the rent/price ratio can go down.Even after appling the 50% rule (which is NOT the same as the 2% rule), and assuming 30% down payment, a property like this would return $215 a month in true cash flow for a 17% ROI.The duplex for $52K with $1050 in rent is a good deal, too.Equity matters because you need to be able to take a down turn and cover your sales costs.

Would someone be kind enough to break down the expenses, terms, what to expect based on say a 50k loan to determine OOP expenses and profit?

I am not defending the way the mortgage industry works by any means, I am just trying to explain that these things are typical and yes it appears to bother you....An experienced agent would have known how to get around it   ie: Amending the contract to make the $2000 a credit towards buyers closing costsI am not saying that seller's make good on agreements outside of closing but you both will sign an agreement at closing saying that you won't so..... hypothetically let's say a seller decided not to pay and the buyer sues in small claims for $2000. 

So you're going to get what, $200 a month cash flow on say a $200,000 risk asset and call it good?  

The monthly variation in ACTUAL cash flow is part of the risk that allows us to demand a proportionally higher return from our investment than say a physical bond with a defined coupon rate.  

If you have a multiple member LLC, the credit partner (the one getting the loan), must be on the LLC in order for the property to be used as collateral, but if the other partner is also on it, any lawsuit against you can't "injure" the other partner since they would have nothing to do with the lawsuit...thus, the LLC (and the property as its asset) is protected (this is where I say I'm not a lawyer and don't listen to what I say as Gospel, and consult with you own lawyer, etc...).

LOL A friend had a PM that would say a place is still vacant, but secretly rent out the apt and keep the rent.  3 months or so, over and over. 

Then again, a well designed tattoo would be better than coming to a meeting with clothes that look like they came out of your trunk.Color in your tattoo tells me you had more thought in it than a night on the town.I can't say a tattoo would be a deal breaker.Depending on my mood and other first impressions at the time, tattoos, especially a sleeve, might be a conversation starter.