Now the house sits for three months and now Im covering the mortgage (at 143,000 for a VA mortgage your propably sitting $800 with taxes) which equates to $2400 leaving me with zero profit.

As with businesses, don't expect to profit right off the bat.

I work full time at a non-profit for at-risk inner city teens.

Cash on Cash Return - 10.19%Thanks in advance for your thoughts - RobertReturn (IRR):11.73% per yearTotal Profit when Sold:$217,855.15Cash on Cash Return:660.17%Capitalization Rate:7.69%Total Rental Income:$471,420.00Total Mortgage Payments:$245,284.85Total Expenses:$125,280.00Total Net Operating Income:$346,140.00 First Year Income and ExpenseMonthlyAnnualIncome:$1,350.00$16,200.00Mortgage Pay:$681.35$8,176.16Vacancy (3%):$40.50$486.00Property Tax:$102.17$1,226.00Total Insurance:$62.50$750.00HOA Fee:$166.67$2,000.00Maintenance Cost:$16.67$200.00Cash Flow:$280.15$3,361.84Net Operating Income (NOI):$961.50$11,538.00

One, since you brought it up, is the ability to find properties cheap enough (which requires a big skill in either negotiating or identifying deals others don't notice) that you can put the money into the rehab and your margins and the total price to the investor not be more than what it can appraise for.

So far profit has been used in other ways ;-)

And, your comments about Hostfully sound about par for the course- startup entitlement mentality / tone deafness with no solid business model, no path to profitability, and just hoping to get bought or go public. 

Numbers are rounded for simplicityScenario A neighborhood:  Purchase price, 200k, downpayment 40k, monthy cash flow after ALL expenses $200, annual average appreciation 3%.Scenario C neighborhood: Purchase price, 200k downpayment 40k, monthy cash flow after ALL expenses $400, annual average appreciation 1%After 30 years, assuming NO rent increases,  on Scenario A you would have profited 72k in rent, PLUS own a property free and clear worth 485k. 

Monthly I will save $400 (paying off cc) plus from the new property I will profit $400 (rental).  

However, with this option, my worry is that too many partners in a deal will dilute my profits that I would then put into another deal.I have also considered house hacking as I have not used my FHA loan yet, but am not out of my current lease until April of 2019.Apologies for the long post, but I am feeling a bit stuck in terms of finding, as well as financing, my first deal.