If I reduce the offer price to $422k, it's still not a good deal (Cash Flow: $403/mo, Cash-on-cash return: 5%), but meets my cash flow requirements.What's the magic number? 

Definitely start connecting with others (if your local through meet ups and the forum) and figure out what type of investor you want to be.

@james masotti  It's so funny that you say that because we were just talking about the market turn yesterday at my local reia meeting and I was explaining like it is at  Its peak and about to turn so my plan is to flip this particular property as soon as possible just to create enough capital to then invest in a multi families because at least by doing that Having flow every month it will supplement the Down turn Because in my market that's pretty much what does make sense And yes it's a pretty nice area but I gotta say the deal is good due to the fact that we got a distressed property owner so it almost just fell into our laps 98 % hard work and positivity 2 % luck lol 

And based on feedback from open houses, I’m adding in additional pantry cabinets, for more storage.Any advice to help sell quicker or if this is typical for oaklyn area please let me know.

Kitchen and bathroom mostly... little bit of dry wall, cabinets appliances, patch paint, vanity, mirrors countertops.

Does it meet your needs? 

@Amul S. come to our meet up man!

Looking forward to doing more deals and meeting new people.

It would be cool to meet up and discuss projects if you have some time. 

I am meeting with my mortgage lender next week to discuss options, so I was hoping to hear back from some people on what they used to get started.