Some of it is already invested, but I would like to get on track in real estate to start generating monthly income on the side in the range of $4000-$5000.

You close on the property yourself..by now you should have a feel for the game, know how to get sweet deals for the low low and more importantly know how to calculate repairs...yup..close on it yourself...no end buyer no assignments..that 40k profit is all yours..... hire a contracting company or if your a hands-on guy...

My background in real estate/rehabs has been full gut job remodeling houses that my parents have lived in as well as remodeling my current home, at one point I was a mortgage loan originator (helps knowing how mortgages/financing works), and I'm currently in the process of getting my home inspection certification to help identify issues for my own benefit was well as generate additional income.  

I'll be there if you want to meet some active investors.CAREIA.org for details (it's a non profit organization).

In today's market, 20% could eat most of your profit, so getting your cost of money down will make a big difference to your bottom line.

There were people buying 2-3 extra houses expecting to turn around and sell them for a profit without any rehab.

It costs 85 cents here, more than double the cost.So, two questions to you successful lead generators:1.

I'm proposing to be added to the deed (I would have to be in order to manage, my firm does not do prop management), be responsible for getting the property to 100% occupancy, maybe doing some rehab, and split some % of profit.

@Melissa Harris, so you're asking if continuing to net $3k per year for your $4k outlay is better than netting a one-off profit of $80k for that same $4k outlay two years ago?

CAP rate is independent of whether master metered vs individual, as it only looks at income generated.