They make an 8% return, like the monthly checks, and the security of and investment secured by real estate. it allows me to purchase properties without graveling to banks, getting appraisals, paying loan fees, and making cash flow without much of my own money. 

I won the last 2 auctions and Wells Fargo didn't accept and returned my EM in both instances.   

I am not finding like Home run deals of 30-40 or more cash on cash returns.

I agree that over-improvement results in a too-long, pay-back period which erodes your returns, but it does not automatically follow that it increases your long-term maintenance and repair costs.You could take an old, draughty, Victorian building, tighten and insulate the building, replace all the windows and doors with more energy efficient fenestration, and improve the HVAC.  

I think you'll get the best rates of return investing in MWC and Del City.

They make big money but local PMs charge 40% so if you’re not willing self manage (which takes a couple minutes per day) the returns aren’t as big.

They are more focused on cash flow than debt to income, tax returns etc.

If your stuff is pretty straight forward (long term rental history, all on last 2 years tax returns, etc.)

Fortunately, we are continuous renovators, and we have several pieces of property that we have been able to purchase and rent with excellent returns.  

We are open remote consultants we just want to get solid advice on structuring and someone to prepare our returns.