It could be that they worked out a unique plan for you since it's a small duplex (they have good reviews online). 

We would live there for one year and renovate/decorate the unit for a STR. 

Our approach was a bit unique as we purchased the property to turn it into a group living home, which we did shortly after moving into the property!

(When I say "cashflow", I mean the average monthly net across the entire portfolio after mortgages/debt services, taxes, insurance, CapEx, vacancy, and all other expenses are deducted).For the sake of simplicity, let's assume that the investor has NO other sources of income other than their rentals (they don't have a W2 job or anything).Obviously, how much cashflow is "adequate" depends on an investor's unique situation (for instance, $5,000/month cashflow might be great for a person with one rental, but it might be totally insufficient for someone with 500 units....similarly, $1,000/month cashflow might be great if all you've invested is $5k, but $1,000/month cashflow would probably be terrible if you've invested 10 million).So, what cashflow do you consider "adequate" given other relevant factors?...

Purchased for $11,000 and added value by renovating to a very unique 3bed / 2bath industrial single family residential rental What made you interested in investing in this type of deal?

.#2 Bring us something unique.

We have a unique mix of factors currently affecting the market: inflation, rates, covid recovery, supply constraints, among others.Given this, what asset classes are you investing in right now?

Airbnb wants unique experiences and properties that stand out, so you can make the property the way you want to now.

What made this building unique was that it was owned by an investor, which made it simple to demonstrate that it was more valuable to bring me on as a partner than it was to sell it to me at a loss.

There are market, holding, and lending considerations - but, in function, these are not unique to NC.I interact with a lot of folks in the investing space, so I keep up with trends, but not all of the details.