If this was through a local bank, they might look at it differently but big banks don't play with this as a general rule.

Yinan,As Joel mentioned, you need to have money to play in the commercial arena. 10% reserve is normal.

Speaking to GRM, cash flow, cap rate etc. numbers look good and here's what I'm seeing from a quick snapshot: Using the numbers you provided and assuming you are putting 25% down and an assumed vacancy rate of 10% and I threw in about $800 yr for updates and repairs to play it safe I see this property kicking off about $385-$400 a month.

The word naive needs to be to the power of ten!   

(Yes, I know many American people played their part in it too).  

Common sense needs to come into play somewhere.  

Those books will give you a good understanding of why we play the RE game.Real Estate is really about relationships.  

He is not your typical cashflow/appreciation investor, he just plays with money and assets.

Teaching, Coaching, and Classes work we all had one in high school or collage when we played sports.  

I play them while getting on with other tasks like driving etc.