Ships & Modules

Cruisers/HACs/HICs/Logistics
This is a lot closer, but still no cigar. You will find that T2 cruisers are expensive, yet STILL too slow to go to warp. The cargo capacity on some of these ships is sufficient for the job, and with all those mids and lows put up a fierce tank, but what I've learned being a ninja is that no tank is good enough. I've been in situations where both sides stopped fighting just to kill little old me! When 2 sets of tacklers is coming at you, there's not a lot of places left to go. For a long while I did all my ninja work in a HAC, and I still managed to stay positive in the ISK... but just barely. I lost a lot of HACs in part because they were still just too lethargic for the job. T1 cruisers have all the weaknesses of a HAC and none of the benefits. As such, though being a cruiser class ninja making isk is possible, there are better options.

Destroyers
Much more attractive! Now you can fit 7 salvagers, a cloak, a stab or two, and MAYBE even a MWD! But oh snap... you'll find that even if you have the CPU to jam all this junk on your destroyer, using even half of it will drain your cap before your salvagers get to their second cycle. Survivability in being a ninja depends largely on minimizing your time around your target. The longer you stay around, the more time the guys who made all those wrecks your salvaging will have to come back and lock you. With half your modules inoperable, the length of time it takes to salvage even one wreck will greatly increase, and that MWD isn't coming back on if you need to run!

Interdictors
So this is it. Interdictors are the best ninja ship in eve hands down, but that's not to say it's great. Let's look at the pros and cons: PROS = Plenty of CPU for MWD, Cloak, 7 salvagers, 2 salvaging rigs (small ones at that! good news for wallet) and 3 stabs down low. Run it all and you can salvage a fair number of ships quickly and not run out of cap. Agile enough to enter warp quickly, and velocity + MWD/AB = fair getaway capability, AB if you are in a bubble. Ship is strong enough to take a few licks (unlike a destroyer that would otherwise be insta popped) during escape. CONS = almost too much power. If you can fly a dictor you can have an ideal setup right off the bat. Even with this fit you will have a fair amount of CPU and a ridiculous amount of power left to boot. Cannot warp cloaked. No bonuses for anything that matters. Otherwise, 'dictors are great ninja ships.

Cov Ops
Warping cloaked is nice, but you can't salvage cloaked! I see people try this all the time. Not many highs for salvagers, low on cargo space, and little HP makes for very few successful runs per ship. Those that are successful will be hampered by low cargo space. It's also hard to make successive runs when one shot puts you in structure. The one good point is that you can warp away quickly.

Other Frigs
A tendency to overshoot the target will leave you frustrated all the time. I can't tell you how many times a little frig zipped past me to get to a wreck first and than overshot it outside of loot transfer range... leaving me to the booty. Yar you very much speedy. All the disadvantages of a cov ops without the ability to warp cloaked. Fail ninja frig.

Noctis
Slooooooooooow. All the salvaging bonuses in the world won't matter if you try to ninja in this thing. It's like flying a dumpster. Everyone knows what you are there to do, and they already don't like Ninjas. The Noctis may be a good salvaging ship, but it's an expensive Ninja Looter coffin.

Honorable mention: the Blockade Runner
This is the one thing I haven't tried, though I have seen it work. During a large enough battle so many ships are lost on both sides that those few left standing can't even fit all the loot in their holds. This is particularly true when capital ships get involved. At those rare times it is very dangerous to be seen lurking about. Enter the ninja blockade runner. I've seen them fill up their entire cargo holds w/ faction frigs, drones, ammo, and fittings by warping to the wreck cloaked, immediately entering warp again, and on the way out grabbing their loot. It's quick to warp, and can be very effective in this scenario. Expensive ships tend to drop expensive mods. Down side: not many highs for salvagers, not quick in space from wreck to wreck, expensive to lose (particularly on a large and dangerous battlefield as described), and opportunities like the one described rarely present themselves to the ninja, who needs to be at the right place at the right time.

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Welp... that's all I got. If you have suggestions or other fits, feel free to post!

Read more on Ninja Looting

When I started Ninja Looting I just went to the map and looked at "ships killed in last hour" and went to the lowsec heat plumes. Now there are a few ways I do it. I check the militia channels for where fleets are going. Militia members don't like to aggro unnecessarily, so often times you can just follow their fleet around GTG. Eventually they will find a FW fight or get caught by pirates... in any event wrecks are generated and you can loot them. Sometimes I just go where I know smack goes down a lot. There are 3 gates in the Tama system, for example, that are great to cloak out by (bit of a waiting game... beer helps). There are several FW systems that see combat on a very regular basis. (FW is my favorite space to ninja in b/c there are so many types of combatants, they tend to hesitate to shoot you while they work out the tactical situation... time enough to loot and warp.) Finally, sometimes I will take a ninja tengu similar to the above fit into null to go after those giant fleet battles. I've had problems with lagging upon jumping into system though. Warp, cloak. Even if nothing happens, something will happen. Because of TDi, your request to warp and cloak will be handled in turn and you *should* be OK. Not always the case but meh... I keep the "Live Events" channel open. The best thing you can do is make friends with other ninjas, though. Anytime there's a significant fight, it's going to be much more than any one ninja can handle, so the competition isn't as fierce. Friends can tell you where the action is or where the tension is building... exchanging these tips amongst ninjas nets out to be very profitable for everyone. In my experience, even otherwise unaffiliated ninjas tend to play well together.

Edit: In Tama my best spots are 200km off Nour gate and 200km off the station. Watch out for the pirates that frequently camp the station.