If it costs me $150 ($100 purchase and $50 rehab) and it's valued at $140, and I cover the remaining 10K with cash, am I not breaking even?

I make all my stuff near passive, even for LTR'S that I have bought for pennies on the dollar.

Actually, I'm not even an investor yet.

I talked to a few PMs after I had closed on 2 homes (Class C) in Indianapolis in 2023 who gave me very honest feedback after walking one property - one even said he would not manage one of the properties  I also got on Zoom calls with a construction management company about feedback on properties I had made offers. 

Inflation is on your side when it comes to loans because you are paying the same amount even though money has depreciated.

Trying to find a source or maybe even a real estate attorney who can provide me contracts that I can use to provide for owners when wholesaling in long island, NY.

Thanks for the input @Russell Brazil, I'll definitely keep that in mind, as I would really like my place to appreciate over time, even if it's a little bit. 

Andy,I am more or less breaking even on the rental and am concerned that I would not be cash flow positive if the rate goes higher, since it's a variable rate. 

Even if you met those requirements, it doesn't sound like you have any experience and you could put her in a worse position by making a mistake. 

My primary question is: Should I focus on buying a multifamily property and growing slowly to build a stable financial foundation, even though my area would have minimal cash flow and be more of an appreciation play?