These are purely for my own education and curiousness - I have not done sub-to, and have absolutely zero plans to do sub-to.   

Anything over that is pure profit.

On this we are aligned.On the other extreme, investing for pure equity growth can be equally disastrous. 

It might have been a waste of time for one attendee, but pure gold for another.  

That changes the game from a pure investment flip.Massive Savings: Seriously, no down payment, no PMI, and those long-term interest rates are going to be way lower than anything I or any other hard money lender could offer.

I'm not local so I pay my realtor to do showings and from a purely financial standpoint, I need to weigh the costs against the benefit of showing a prospect a place that may or may not look "rent ready" yet. 

Buy a Property That Makes Sense as a Rental Long-Term Even if you plan to live there now, ask yourself: “Would this property cash flow as a pure rental later?”

For purely quality of life, yes I would.

If you are pure investor, then FHA loan doesn't work. 

Per our lease agreement (smoke detector batteries, pest control, furnace filters, mini-blinds, lawn care, whatever,  is/are your responsibility.That is an upgrade we can do with a lease increase of $xx/month.We cannot control the neighbors.After a few months if they continued to make unreasonable demands via the maintenance portal, I'd non-renew them.