If a $200k house papers out to $30k profit when I run my numbers, I'm buying it.

These are a few things that struck me when I read your post:While it's good to be careful and analytical when running your numbers, the specific details you gave above regarding cap rate, etc. aren't accurate.

The only risk you  run is someone else making an acceptable offer on the same day. 

You only learn so much sitting behind a computer running numbers.

I'll run comps for you.

A small bullet to bite in the long run. 

I have written a detailed business plan on how I plan to start and run my investment  business, eventually bringing in limited partners.I am located in California and hope to purchase my first rental at the shift of the next real estate cycle.

I know I’m not running over to my property to do a tenant responsibility.  

If so PM me.... roughly, and this is the Bronx I am talking about, I'd run estimates based on Sq.

I used BP calculators to run numbers as a Fix and Flip and as a Buy and Hold, with both cash and conventional financing in the interest of multiple exit strategies.Quick details:Property is a SFH in a trendy neighborhood, three of the homes for sale within a 5 minute walk are flipped homes.Property has 3 beds and 1 bath.