Is $23k Liquid Reasonable to Start Section 8 Investing in OH?

[Guenevere F.]

Hi All! 
This will be my first investment property. I currently live in Washington State, and am looking to invest in OH, providing housing for Section 8. I’m a full time property manager in my 9 to 5 and manage 138 doors. I’m wondering if $23k of my own liquidated funds is reasonable to start looking for an investment property? Any thoughts and comments welcome as I am very new and open to learning from seasoned investors. Thank you all! 🙏🏼

[Drew Sygit]

@Guenevere F. you're going to need 20-25% down to get a mortgage.

If you target $100k, that won't leave you any funds for closing cost, maintenance or emergency reserves.

You could try targeting around $80k, but the $16k-$20k down payment would still not leave you with enough.

If you buy under $80k, you're probably buying such a low-end property that it is unlikely to meet your performance expectations.