On a typical leveraged acquisition of a residential multifamily we look for 15% Cash-on-Cash...once you climb over this, you're probably getting into the D-class assets that are too much hassle for the returns.

How does a typical day go for you guys and what advice do you have for a newbie?

You typically will need to come to the table with 25% of the projects costs and can borrow the other 75% from a hard money lender. 

Typically it’s 75% .  

-Or is it more beneficial for him to sell it through typical financing when it comes to capital gains?

Hey @Dave MeyerInterested in hearing what your typical arrangement looks like.Is there upside for the owner in the form of revenue split, above market rates, etc?

Regarding your question about the deposit, typically, it is best to address the security deposit issue after the current lease expires, laws do not require tenants to sign an addendum for anything during the course of the current lease. 

Depends on how long it typically takes to rent a house in your market. 

Do general contractors typically provide a fixed price or labor only bid with flips?

Rentometer for automated valuationsCheck current listings in HotPads, Craigslist, Oodle, newspapers -- if 5+ unit try LoopnetCall For Rent signs you see in that area of townCheck out property management websites; they typically have all of their available units listed onlineOne way to get a baseline is to check Section 8 government website for the areaHave a realtor run rental comps for you