Also the hit rate per property is really low.

The buyer finally reaches out to say that the bank is having a hard time seasoning a couple of the homes in their portfolio. 

You might be able to find a lower price point per unit than I’m at but it’s a LOT MORE WORK to have low quality properties as opposed to nicer ones.

I guess my question is this: is the very low cash flow (due to my low down-payment and high interest) going to improve?

if they are a great PM 20% is totally fair. not too high and not too low

I'll add that you must manage yourself for at least a year (all four seasons, etc.) to have a real understanding of what you want done and how much you would value what is offered by STR PM.

@Travis GuttingAssuming you are trying to keep things low-budget, here are some options:Driving for Dollars – Look for distressed properties and contact owners directly.

, whether there's a high water table that encroaches on any underground utilities or foundations (and does that water table have significant seasonal water level variations), encroachments by roads or other improvements on your property, limitations imposed by easements or rights of way, etc.

If they are low balls then usually you are asking someone to work for free as the fix and flip landscape is competitive for a low pay out.

Low barrier to entry, low taxes, landlord friendly, some amazing class A and B suburbs and a strong urban core.