However with rehabbing and finding tenants, you could be looking at 4+ months, and a hard money loan with 12% on $700,000 is incredibly expensive. 

Great job spending time working on your marketing campaign, that's an incredibly important piece of the puzzle. 

I cant blame the guy though, Brooklyn deals are bought with negative cash flow, because the appreciation rate is incredible right now.Its crazy out there.

@Lumi Ispas  thank you SO incredibly much Lumi!  

Another thing I have noticed is that the some of the top female producers are married to high income earning spouses where there is not much pressure for them to make income.

@Joe Villeneuve It seems to me that when it comes to borrowing capacity, having 100% ownership of an income producing property should trump an otherwise poor credit rating(?) 

Otherwise you could be passing some incredible deals by and spending hours researching dogs.As the original poster said, income and expenses can vary greatly. 

Eveny other strategy from flips, to notes, to wholesale, only creat chunks of cash, they are not sustainable   Buy and hold rentals are not sexy, but they will produce cash as long as you are alive. 

Also you have to remember most HML need to have a lien position at close and title insurance you get none of those at the courthouse steps auctions.If you have no personal capital it pretty tough getting started.. trying to scout deals for those with capital is one way to go.. working with a top producing RE agent can be fruitful as well.

We are getting 2-4 years of interest only with incredible rates on nonrecourse loans.