But what ppl don't realize is that it takes a boatload of energy to take cold water and turn it hot in a flash, the equivalent of 9 AC compressors running on a hot day.This is why it's critical to have proper, expensive installation, b/c you're really taxing the electricity of the house.I'm in Miami, and quality electricians are in short supply.

So here is how I would set this up: Kitchen: Appliances - $6,000 Cabinets - $10,000Countertop - $70-110/sqftSink - $1,500Faucet - $500Cab pulls - $500 (or $6-10/pull) Install - $2,000Flooring: Floor product (unfinished): (expect to pay 4 - 10 dollars per board foot for anything quality) Floor finishing (sanding, coating etc) roughly $3/Sq ft (as long as you are using a standard coating (polyurethane) if you want to go higher end with an oil or stain expect this to jump to 4-5/sq ft Bathrooms:Demo: $/hour x expected hours Underlayment: Schulter Shower System (approx: 500/shower enclosure) Tile/grout/thinset: 6-10 sq/ftInstall: $3-6 sq/ft Lighting and Electric: (pricing includes installation)   Switches: approx $30/switch  (this assumes a mid range Leviton 3-way dimmer) Outlets: $10 (TR Leviton duplex, GFI where needed and duplex/USB combo in Kitchen Island and a few choice locations) Lighting:Surface mount approx $150/fixtureCan: approx. $250/fixture (assuming old work install by electrician)A little more on why I do it this way: Kitchen: You can figure out exactly how much your kitchen is going to cost before you start.

Have income high enough to meet their threshold for the properties that you are buyingIn terms of getting multiple mortgages with smaller down payments, you could do the live in BRRR method.

Are there any better methods than direct mail?

The potential tenants from the realtor were much better quality than what I was getting online and from my yard sign.  

Its based on County, method of payment, down payment of and so forth...The app works well.

Building constructed in 1980Present loan value appx $77k on a 15 yr note with 3.375% interestP&I pmt is appx $602NOI 2014 was $11489NOI 2013 was $5142      (spent around $4k on updates/remodeling)Appx $27k by my calculations of capital improvements needed in the next 5-10 years to increase the value of the property, properly maintain it, and keep it functionally up to date in order to attract higher quality tenants (located in a b grade area) (I'd rather have more invested to have higher quality tenants - have my own reasons for this line of thinking - willing to sacrifice a bit of profit to have good people)- Redo Kitchens- replace doors and all base trim/casing (more for my taste and would help the place rent out even quicker)- 2 escape windows installed for basement bedrooms- Concrete work needed on patios and near front of the house -- need to be done in the next yearProperty based on comps in the immediate area and a tight supply of decent duplexes here is $175-210k or so.  

Obviously you would probably get better terms financing it with residential, but I am curious if the rules of forced appreciation still come into play when financing through this method. 

@Kelly S.If owner financing is not an option, you can research other methods like lease options.  

They can be installed in various methods whether is be fully adhered or mechanically attached but the best part about them is they have heat welded seams which are the strongest point of the sheet vs. an EPDM seam which is an adheared seam and can fail if water ponds around it.