Let someone else do the crap you don't want to deal with.

Much more involved and podcasts are not a place to get financing ideas, it's full of crap.

I had several people "test" me to see if they could get away with crap.  

So, considering a real education to get going in this business is a legitimate consideration.Problem is, so much of the education in this biz is overpriced crap.  

Older units seem more like a crap shoot.

Forget that MAO crap, as you study RE you'll learn what forced appreciation is, if you are making improvements and the level of the subject will be brought up to a higher marketable price level, that is where you make money.

I run the numbers on lots of properties each day but it seems sellers want way too much for their properties (I'm looking at multi family) and, as you mentioned, once a property hits the MLS it's total crap (not worth it).

Their lender then stated that I had to pay for a 2nd appraisal for the buyers and that came in at $135k so obviously they had to go with $135k.Appraisers are a crap shoot!

There are still non-hard money i/o ARMs in the residential space, but not for baby loan amounts AFAIK, and they close slower because the end-lender is going to do a crap ton more due diligence before giving you enough rope to hang yourself (which is why it is not worth doing that due diligence unless it's a larger loan amount). 

As is typical with old-school landlords, the units are all on month-to-month rent and way below market value (rents range from 600-800 dollars)The people that live in the units are poor quality tenants: many of them smoke in doors and the building smells like crap, they are very messy and I imagine they are hard to deal with based on my understanding of low rent tenants.I have been unable to enter any of the apartments themselves because they are all occupied, but I am just going to go off the assumption that all four units will need a complete renovation.