@Craig Oramif all you want just cash flow positivefinance 100% interest only I/O + 453cash flow 400

Nothing wrong with either thing but it's like comparing apples to oranges. 

if too low it will impact the numbers big time esp if you're buying at 80% LTV and 5 years IO.

Anyway, I've found that you if let people "have one bite of the apple" (a quick conversation and request not to do it again) as a courtesy, most of the time they get the message.

Here in Pittsburgh new investments by Google, Apple, Facebook and Autodesk is a true testament to the growing infrastructure here.

I would intern at what ever real estate companies your interested in.My daughter was interested in finance.. and she interned during collage with a high level appraisal company that did apprasing for emanate domain cases.. and she worked on the one in Napa CA were the state and city bought out a big swatch of the napa river for flood control project and many business had to be relocated from hotel to shopping center to car dealer all of them needed to be valued.. it was high level work she enjoyed it.she then went on to graduate top of her class at Davis CA.. in managerial economics degree and promptly got snapped up my Intel after offers from Apple and Micro soft.now 14 years later she is a SEnior controller and a Dave Ramsey disciple which means at her age home just about paid for 2 kids in grade school and NO debt and a ton of savings and max's out her 401k.. she has little interest in real estate she owns one rental but only rents it to family. that was her path.  

Really apples and oranges. 

To calculate "Net Return" as NOI/DP is IMO mixing apples and oranges.

Then there is both as related to the actual cost paid (related to LTV).The Midwest will typically have higher initial cash flow regardless of if it is based on initial value or actual cost if compared apples to apples (i.e. both finance at similar LTV). 

This is like comparing apples to oranges.