As someone else mentioned, your question is more of a book topic.To give you one specific data point that I hope will be helpful, in short, if I was your client and you found me a small multi with a current GRM of 12 (that I could get closer to 10 with some improvements/mgmt), and in a local neighborhood with "will always be a renter" residents, and a few other attributes I favor, I'll buy it, throw off 5% free CoC return, and a 5 year IRR around 15.There's an insane number of variables that go into me having these specific requirements, but this is the best optimization I've done for my lifestyle, situation, personality, and risk appetite.  

There are some lead generators that are pure online tec businesses but as the online world has evolved and the BMV sourcing game has become more and more popular the lead generation cost has risen to an excessive level.If you are looking for a deal for you in your local area I would look at postcode credit worthiness and letting demand and look to market directly if I had time.

I'll be buying my first rental in the next 2-4 months, spending the time between now and then reading/researching as much as possible and getting some work out of the way.I figure my wife and I can buy 200-300k of rental property a year using the 20-25% down rule using excess income and not having to alter our life style and not over extending ourselves.  

Instead, you should deduct the repairs from the deposit and bill them for any excess.  

We applied for the certificate of occupancy and got flagged in nearly every single room for the WINDOW SILL/SASH with the following code violation:The interior was found to contain protective covered surfaces in a state of deterioration in excess of more than ten percent of the identified building component with a small surface area. 

Four leaks in a short time seems a bit excessive.

Hi Brandon, I've administered in excess of 125,000 1031 Exchanges during my 31 years in the 1031 Exchange Qualified Intermediary industry. 

Set it up so you both get paid out a certain about during the operation and and if you meet certain return threshold, you get a higher percentage of the excess returns.Don't look at it like you want equity in the building.

Ridiculous... 200k is excessive unless it includes the mortgage payoff.I closed on a MFU fmv @ $775k and closing costs sans mortgage payoff was only 79k.

But if the security deposits have been returned to the tenants, or if the new landlord has properly accounted to the tenants for proper deductions taken from the security deposits, the new landlord may legally collect new security deposits.258If the selling landlord has returned a greater amount to a tenant than the amount of the tenant's security deposit, the new landlord may recover this excess amount from the tenant.259Rules Rules Governing Security Deposits).