Based on my calculations, even with a low down payment, I can achieve positive cash flow (with aggressive enough house hacking).

Reach out anytime agreed. i am unfamiliar with his markets but $220 does seem very low. a sf room mate/ BRRRR strategy seems more practical

Just taxes will be 20k.I would run numbers like this:Property 1.5 million (minimum)Construction (Cheap end) 2.14 mHolding Costs (at least 150k)In my book, even according to your calculation, that means you put in at least (those numbers are on the low end): 3.8m! 

Pricing models vary, but I use a flat-fee approach based on the intensity of design strategy and level of investor involvement.

But you will never see the appreciation that truly builds wealth, because those low-barrier-to-entry properties will stay flat on the metric that matters: appreciation. 

If you are in a large metro area, it's a slam dunk.You can get semi-antique persian rugs on FB Marketplace for the same price you can get a cheap fake at Lowes. 

While the image of yours I found seem to show the main entry to the 2nd floor at ground level, the older the prospective tenant, the less interested they are in a non-ground floor unit. 2) Using another part of the property as storage could limit interest and I could see that as a turn off with folks once they find this out.FYI, the listing I found on realtor.com makes no mention of the tenant not having access the entire property or the basement being used as storage.

@Chris Mahoo many new investors don't take the time to properly understand RE investing.1) Many are using approaches from 2010-2018 when Class A property prices were so low from the Great RE Crash that an investor could cashflow and get pretty easy Class A tenants to manage.2) If you look at what investors were doing before 2008-2010, most were buying Class B & C rentals.To make it worth while, an investor either needs to Fix & Flip or invest & hold rentals for 10+ years.- Over a 10 year period cashflow will increase as rents increase (rents typically rise faster than property taxes, insurance, etc.)- The property should be appreciating, if purchased in a good location, increasing the owner's equity/wealth.- Rents will be paying the mortgage off, increasing the owner's equity/wealth.- If you hold a rental until death, you can pass it on with a stepped-up cost basis, limiting captial gains if then sold (limited by inheritance tax limitations).Too many newbies on this site trying to replace their day job income via "passive" real estate investing w/o digging deep enough to understand how it really works.

Low entry costs How did you find this deal and how did you negotiate it?

The times were different then: rates were incredibly low and property values were steadily rising so even if I overpaid for a property (which happened a few times) the market usually bailed me out.It's a very aggressive strategy and as others have said, if it doesn't go right then there is a lot of risk.