@Samuel Carmichael besides what @Brandon Ingegneri said about looking at absolute dollar amounts to figure out if it's even worth the aggravation, I also agree with @Michinori Kaneko about looking at percentages.Personally I look at percentages first, namely 1) cash on cash return (yearly money back after all expenses including mortgage, divided by all money invested to get it rentable) and 2) debt service coverage ratio (net income after operating expenses but before mortgage payment, divided by the mortgage payment).The first is (obviously) a measure of return, while the second is more of a measure of risk as it tells you how much of a buffer you have between the property's net income and the monthly fixed mortgage payment.After you get a little more experience you'll also start to factor things like replacement reserves into account.

You didn't go SEEK a house to generate profit on. 

I'm operating in Canada FYI).

Then in your operating agreement on the company, you can put in a buy out clause.

Our ultimate goal is to generate enough passive income to quit our jobs and travel with our kids whenever we want (WITH a nanny of course... that's part of my fantasy). 

You won’t want to miss the three things your website NEEDS to generate seller leads, as well as the exact process to estimate rehab costs!

Just be really careful here. 7% is NOT a good rate for this deal at all, and youre going to have to generate a massive amount of gross income each month to stay solvent.

For those who hire virtual assistants, have they helped you generate more income?

I'm always looking for way to streamline and systemize my operation so I appreciate your insight!

We have used companies like InfoUSA and other list generation sources in the past, but found that we had a hard time finding the owner directly and ended up speaking to a lot of property managers etc. which wasn't particularly effective.Does anyone have any ideas of companies or processes we can employ to help us identify properties and then get in touch with the true owners of the building?