Usually somewhere in the range of 70%-90% to the investor and the remainder to you.  

Jon - Yes, you would use the $113K with respect to the 2% rule.

My sweet spot is the 7-24 unit range, closer to 14+ so I can afford on-site mgt.  

I am looking to buy and hold, could pay cash for smaller deals in the 50-60k range.

I called 2 property managers personally and told them the street and that it was 800 square foot 2 bed bungalow and asked what the range of rents were. both said 500-600 max.  

However, I think I have more solid thoughts and questions now.I really want to do buy and hold real estate investing.I have about 20K in a PLOC, a credit rating about to hit the 800's, and a monthly cash flow of about 2500+ I can throw into rehabbing.I have been looking at Baltimore City cheap housing and wanting to buy between the 5 and 10k range in which I know will be most likely complete rehabs. 

Specifically, I'm talking about single family homes in the 300-400k range on Long Island, NY.  

The test is used in most cases only in respect to the type of harm.

I have to respectfully disagree.

thx for all the info i plan to start doing the drive bys next weekend for now i am looking on GPSat the different areas that the homes are available I'm thinking massapequa because its not to far out from the city and i see a lot of big boats out there so i basically for now because since I'm not to familiar with real estate on long island I'm looking to see which houses have the biggest boats in the back because I'm thinking the more big boats the more rich people and possibly the demand will be higher when i do decide to flip the house... i guess ill pick my houses first and than look into the municipalities that they are located in because i plan to have a list of 5 or 6 homes that i WOULD BUY but just buy the one that is at the best bid because i don't want to do all the homework and get into a biding war over one house so i plan on having a range of options so i don't overpay or walk away empty handed