I typically find that these guys are using terms like cap rate and NOI to make there deals seem that much better hoping that the people listening don't understand how they got to their numbers and take them at face value. they want people to pay for their training or system education materials. 

Next is the house still desirable or is it next to a highway, train, swamp, dump, or any other distraction and what are the neighboring houses like? 

They may have the lowest interest rates and long term loans and they are not trained on investments, only on mortgages on houses and only care about is collecting your money.Your experience will be considered by anyone you borrow from. 

Again, I would let the business fundamentals drive the train.

Also, for local mentorship/coaching, feel free to check out Brew City REI Training Cafe. 

I'll make them a cash offer faster than they can get a ticket to Hawaii! 

I just shop and shop and when a first class ticket comes up that I can use my status for free upgrade I grab it.. :) 

I spent around 16 years off and on in San Diego as a Navy Corpsman with Marines, Team guys and eventually on ship, 6 years in Washington, DC as a Respiratory Therapist and about 4 months or so in San Antonio, Tx for training - good times!

And your 50/50 split is usually the worst-case scenario as many brokers offer better unless you're brand new and training.    

@Ryan GriffinHi Ryan,It's obvious that they only earn enough to live "Paycheck to Paycheck", which is why they rent vs own.Paycheck to Paycheck renters can be suddenly short on money due to an unexpected (unaffordable expenses, car repair etc... or other personal issue such as a traffic ticket, missing work do to being sick or hurt, etc...).Some people will spin stories to string you along (because they have to--to avoid losing a place to live and further complicating their life's problems).So goes the rental business.Good Luck!