At least Downtown LA has more space to spread out; whereas downtown NYC has only the tiny narrow island of Manhattan (New York County) unless we count downtown Brooklyn etc as part of downtown NYC.I'll never forget the walk from work downtown Manhattan to Forest Hills, Queens back in 9/2001 when everything was shut down.

Going to RE networking events and talk to people.Call - "we buy houses" bandit signs, FRBO's, FSBO's, Section 8 listings, etc.Go to foreclosure auctions and talk to people.Join investor groups on social media websites. 

Basically get it at a low enough price that you can add a spread and sell it.

That doesn't mean higher priced equals better, it just means that at lower price points there is not enough spread for both an owner and a high level manager or TK company.  

@Andy W.Are you looking for more of the margin spread or the percentage of ARV - repairs?  

I agree with your thought to take that seasonal and divided /spread it in a 12 month case scenario.

The repairs could easily total 100k, but like I said, I'm looking at a huge spread with a clear 100k of profit at least.I've gone on the internet, and called city and government entities to no avail!

MIP, as Wayne said, is FHA version of PMI and stays on for the life of the loan(refinance to get rid of it at 80% LTV).Fannie Mae 3% program.http://www.fanniemae.com/portal/about-us/media/corporate-news/2014/6203.html

@Scott Nipp Interest rate spread is a great way to make money, it's what banks have been doing for 6,000 years.I don't know anything about regulations in the US.

I'm in the modular homes/pre-fab business and looking to spread the word.