This turns out to be around %12 cash on cash return.

I would sign up for that return all day long. 

In return I would keep these "almost ready" folks connected to them for mortgage loans within the next 6 - 18 months. 

While we are talking very broad; you will likely finder better cap rates and rate of returns investing in UT/MD over NYC.Have you decided which cities/towns you will be invested in?

From a place you might want to live, Mt Vernon wins easily.

I have target properties on webside banks under 10k i use realtor for Comps and its look pretty good return on ARV.

Even with crazy high rents, when you have to get into a property for 1mil, it's just hard for the returns to out pace the cost of capital, especially when you factor in all the other costs.The oddity with the last observation is that without capabilities these markets also tend to be the biggest challenge from an execution standpoint for someone just starting out. 

Because I don't want to pay for someone who lies or changes their mind.I'm crystal clear about what I am looking for, so people can easily weed themselves out before paying the application fee.The tenants pay the whole fee to the website I am using. 

I could easily put in an additional 30k or so and purchase something in the range of $800K.

You don't want to find costly issues after closing that a home inspector could have easily identified.