I want to know the cash flow # I can produce easily with 100k cash invested in real estate basically.

I’ve met people like him before but and you can easily basically say the wrong thing.

The fact that it's taken you a month to find contractors for basic repairs demonstrates you are incapable of performing as a property manager on this particular home.I request termination of the contract and a return of my earnest money deposit no later than April XX, 2018.If they refuse, hire an attorney.I don't know your state law or your contract but the seller typically can't do anything to you for walking away from the deal.

They basically just used our rent roll and this cap rate to come up with the assessed value. 

yea essentially that is whats going to happen...but term sheets are more deal specific.They will basically provide you with a pre-approval letter based up to a certain amount...just like a traditional home loan.  

I told the broker today about my concerns with the rent roll and he basically said that what he was able to produce for the OM took a ton of work to formulate the numbers to be what they are based off the scratch pads of accounting they the seller maintains and calls records lol.

How did you all go about learning these concepts well enough to be comfortable taking that leap?

I've been trying to find more basic/newer properties, but what you're saying makes sense (find a dated but livable property to start out).

Using the basic 70% rule (70% of ARV, minus repairs (and closing)) I come to a max offer of $145,200.

We wouldn't really need to add anything else, I don't think... basically renting the land out.Does anyone have any thoughts or opinions?