If you do a commercial mortgage then closing costs will usually be a little more expensive than conventional.

On a spreadsheet it's usually cheaper to go via hard money lender, if you can avoid their extension fees.  

Is the extra late fee worth the baby sitting? 

If you call the number that they list, they usually have a secretary who answers and wants you to give details of the property so they can get back with you.

These is usually the 100+ packet of paperwork your agent gives you about the property after you make an offer - not everyone reads this important information or at least the important stuff such as rental restrictions.

These are usually pretty extensive flips with probably 80-120k rehab budgets (although I have no way of knowing how much they spent, but I have a feel for what it would cost me to do the same thing).

Also it would be good to have some extra savings for repair costs on your investment property such as a appliances breaking down, HVAC and such that would need to be fixed immediately to continue renting.

@Patrick Philip They hire virtual assistants who usually work with real estate professionals.  

@Allison Olson , ya my usual recommendation for those starting out is not to worry about all the information out there as it is overwhelming.

We can also access every single deal on the market, as well as see what properties are currently renting for, have rented for, extra notes on properties only available to Realtors, etc.I have a handful of properties currently available that will cash flow with as little as 5-10% down.