Do you do yearly inspections so that you can catch issues before they escalate?  

Good catch!

If that increased NOI is unrealistic and you are not experienced enough to catch it, the cap rate will look much more attractive than it should. 

I would highly recommend you don't try and pretend to be an owner occupant as the city is cross referencing mortgage data to "catch" people doing this-they are basically going all CSI on STRs right now to shut every single one down that they can. 

My catch is, it will take about 12 for the down payment...4 for closing costs...another 20 in rehab.

Sometimes this happens more than once a year.Landlords have things like floods, rot and pests on their to-do lists.Landlords are steeled against hardship because what we’ve made it through to get where we are now pushes us to believe we have the power to handle whatever surprises lay ahead.We’ve been shocked by the unforeseen enough times to account for it every time the phone rings or we open the mailbox.Even though we really would like to just. catch. a break. this month.I’m not yet a veteran.

I don't have anything to add about the numbers, but the buy out did catch my eye. 

Set a time for you guy to get together and catch up once a month or something.  

on either investment or primary residences; just different LTV that they'll allow (up to 100% primary resd; I think 70% LTV for investment properties).Here's the short term catch - With the crazy mortgage market currently, they have suspended doing all HELOCs, but I believe they will continue in the near future. 

I'm new to real estate investing and have been getting e-mails from home investment companies stating the house (for example) ARV $250,000Seller Asking Price $215,000Repairs Needed $0There has to be a catch.