The key here is not necessarily the numbers more about the tactic and if it’s LEGAL and POSSIBLE To DO it like this or if any one has tried anything similar to this: Property purchase price: 80,000Estimated Rehab cost : 45,000Property ARV: 175,000Hard money Loan used for : DOWN PAYMENT & FIXED COST.Down Payment: 16,000FIXED COST : 18,000 35,000 ( added an extra grand ) HML 35,000 @ 15% interest with 6 points Total: 46,250LOC used for REHAB : 45,000 @ 3 % interest.Total 47,000HML + LOC = 93,250Remaining Balance On House : 64,000 @jasonDiClementeHML + LOC + RBOH= 157,250House sells for 175,000 SP - HML-LOC-RBOH = 17,750 profit - tax about 11,000 grand ... not really a big number but like I said it’s all hypothetical.

They've left half the unit vacant simply because they didn't want to deal with a fully-occupied building.

Is the answer simply networking, going to events etc or is there a simpler way?

Very hard to make profitable, plus all kinds of issues with e.g. zoning. 

You could probably double or triple your profit each month with a STR, but you would probably quadruple the amount of headaches and responsibilities.

Investing out of state has been profitable, but I have way less control over the property.

Techniques/Items to consider Mirroring - simply repeating the last few important words your counterpart saidMirroring is great when you are at a loss for words.

Funded in part with private money and the balance with investment partners, the project created profits in excess of $200,000. 

With each sell we have been able to make some profits which has given us hope that this is something we might be good at with an actual investment property and not our home.

You just have to sit and study it and plan on how to put it all together to make the property profitable.