I chose a 10-year loan to keep the loan % as low as possible and am trying to get the closing fees down because they're absolutely ridiculous (they're computer-generated so they're likely lower in reality but some of the fees are bogus and some is work my RE attorney can provide for cheaper).It sounds like Colony Financial and the credit union I am working with are following the same rules - if you get the 25% down you likely won't have a problem getting a low-interest loan. 

So it was very different in my day.I think what we see now is this idea spurned by the Guru's that the way to get into real estate is NOT get a license and work in the industry.. its to be unlicensed but do the same thing because you can earn money to then buy and hold  which virtually anyone coming on BP says the EXACT same thing verbatim  HI I am newbie wholesaler I am going to wholesale until I get enough cash to buy and hold then I am going to buy and hold until I get enough cash flow that I can quit my corporate job or ho hum job and never work again.. ( Right).. that's the dreamSo you have dream merchants who need to make money selling course to people with very limited to no funds.. and they have to have something that allows these people to think they can achieve those goals and dreams... but the reality is Wholesaling is a very advanced strategy.. its VERY VERY HARD... 95% who try it flame out in 6 months .. now again its regionalized .. in areas were there are just more houses than buyers wholesalers do a lot better.. out here on the west coast you would be lucky to do 1 or 2 deals a year.. or you need to be super man.. and or very well cashed up.. so you can spend 10 to 30k a month on direct mail or other media to drive leads..

I just need the help starting my team, so I can start making my dream a reality.

BUT the harsh realities of BK RE in particular and NYC RE in general are well documented - mega expensive with depressing cap rates. 

Ask them for their own photos / videos as you mentioned (staged ones tend to look far different from reality)Make sure to have the inspection contingency (the inspector should be better than you or I at assessing the actual space) I don't do the neighborhood assessment contingency, because you can look that up / ask ahead of time.If you have a relative with time on their hands / near the area, ask them to look.

the reality to all those that say dont do repairs until full approval.. true full approval comes with a clear to close and usualy within 5 days or so of close date.. not enough time to do work.. and reinspect etcOP  were there same model homes in your hood.. did you know what they were selling for?

She has taken it so far to complain to City of LA Dept of housing and is calling health department now (in short "we want revenge" kind of mentality, but in reality, they don't have the money to pay).

That would be $308 off the top showing the property itself as only producing $65/month positive cash flow.With $74000 lying dead in your property you are in reality losing money every month you own the property.   

I agree that the best opportunities (generally) pop up in "B" and "C" class neighborhoods - but reality is, there is no neighborhood where every house is automatically going to be a profitable rental property.

The reality is that so many people live so packed in close proximity to public water sources this becomes a public health issue.