I have found duplexes in Cleveland where total monthly rent is $1400 and cost of the duplex is less than $15k. 

Found this thread trying to see what the NY state laws were in regards to wholesaling and if it's prohibited without a real estate license.  

My son was just admitted to Galloway and I want to find a house we can walk to school but have seen everything listed and haven’t found the right spot yet (because I don’t have $3mil).

I would like to do the same thing (retirement aged and high % of equity homeowners) but was curious as to how you found these people.  

Something built 5 years ago can probably go with a low CapEx, while something built 50 years ago, and is still hobbling along on the same appliances, will likely see some big expenses coming up soon.I have looked at dozens of properties, and not a single time have I found that my calculation of Cap Rate matches the advertised Cap Rate.

First part of the question - I've found HELOC rates, recommended elsewhere on BP, for non-owner OCC from Pentagon Federal CU.  80% LTV and 6.25% variable APR.   

After about a month our servicer made contact and found out the borrower wanted to stay in their home.

What if seller-agent found the buyer?

I’ve found that I spent way more than ten percent of rent being new to propert management and going to the school of hard knocks.

That did not happen....2nd mistake- we did not do our own internal due diligence and perform a background check.3rd- one of my other partners was informed in June that the current tenants were subletting(I found out 10/23/18, yes 3 days ago) and did not tell me.