Under contract on a property in my local area and want to rent out shortly after closing in a few weeks.

@Carl R.CCR is short for Cash on Cash Return on Investment. 

During the process of looking for a house I came across one the Biggerpocket YouTube videos and absolute loved the idea.Instead of taking our saving and putting it towards a mediocre house that would appreciate in short amount of time, why not have the 4 walls work for me instead the other way around?

We did this for a short period in FLL and most owners did not allow subleasing.

I'm guessing the bandit signs and mass mailing to absentee owners will be the biggest lead generators.Also thinking about issuing some short term hard money loans.

This is our job description as "investor".   

If income/expense numbers given to you were inaccurate, then I would lower my price to adjust accordingly to the cap rate you agreed upon the incorrect numbers.No deal is better than a bad deal, and losing a few thousand dollars is worth it not to get into a bad deal.The broker can put any description he wants, but he should not be passing over incorrect income & expense numbers.Go back and lower your price accordingly or else walk away.  

@Rafael Norat New to the game but hungry is a good description of where I'm at!

short answer you CANT  highly risky. 

Anyway that's the short and simple but like i said read the blogs listen to the podcast and connect with others it will fall into place faster than you think if your dedicated.