As great as it can feel having a massive cash-flow from a property with little to no financing carried on it remember, net cash-flow is taxed, ie diminished, by that dreaded Uncle and his regular shake-down.

Also if you are finding your deals which are on the market (mls) you will more than likely overpay because the competition is massive and you are bidding against home owners who seem to have lost all reason in this market.

@Bernie Burke Clearly you're doing something right or have a massive personal income.

If left unkempt, it can act as a massive hurdle especially in finding opportunities and funding future ventures.When you make decisions with reputation at the forefront and do what is right despite conceding a near-term cost, you build goodwill.

I suggested propertyradar to 2 broker friends, they were amazed and subscribed and I don't get a commission from them but wish I did (not from my friends, but from all the people I recommend propertyradar to).The best property owners to go after are those who had their property on the market and the property did not sell for some reason e.g. the seller got cold feet, could not get the price he wanted, could not sell because the property needed a massive amount of work, etc.With property radar you can download 10,000 filtered records per month for only $79 (that is what I pay for 5 state).

I a huge fan of Warren Buffet. 

You are correct in assuming cap rates are low, because they have been massively compressed over the last 5-10 years.

On the flip side of this, if you were making $200 in cash flow would that really change your life that much and be a massive success?

You're worrying yourself because you are taking a massive risk by trying to save a little bit of money now that could easily cost you 5x that later.

Say then I buy 5 investment properties with massive amount of debt but each cash flow by 300.