Your example is quite good. If you can find 10 of such, you may not need W2 work. Of course why not?
1,300 - 300 - 300 = 700
700 x 11 = 7,700
7,700 / 95,000 = 8% That is 8% Cash return rate. Not too bad, right?!
If you do loan ... I can't see you can find 10 such houses that easy.