Your question seems to be aimed more at the elusive "motivated seller" - as in, why wouldn't a distressed seller just hire an agent?

The 70%ARV rule tells you the maximum all in cost that you should aim for.

I suspect the Agent (doing their job) is aiming more to help the SELLER, not you! 

If they stay you are supplementing their rent and if they leave the new tenant would be paying market.

It makes for great supplemental income, but I have found it too unreliable to rely on as my primary source of income.

At the moment I'm looking to supplement my income.

and its hard to give up something you worked so hard for ... so just have some one crash it... lol jk but seriously losing the car was the best thing that ever happened it made me open my eyes to what i truly want to accomplish and thats owning a twin turbo gallardo or a GTR by age 30 lol. and spending all my money on depreciating assets now isnt going to get me there. in the last 5 months ive got my real estate license and im now with century 21 americana and WITHOUT ME WORKING just my girls income we have managed to save up 6k ... aiming to buy a fourplex for xmas!

Admittedly, I haven't had much success in finding investors (not at the level I'm aiming for), which is why I'm willing to pool resources and form a partnership.

@Adam Sheren , I'm guessing that the advice is aimed at people who are just getting started.

Next, buy an investment property under the hypothetical assumption that you are the sole owner and that you can not rely on a girlfriend, wife, or roommate to supplement your payments.