That will strongly affect what you can realistically do when getting started.Whatever the amount, the best way to get started with a minimal out-of-pocket expense would be to house hack like others have mentioned.

Before making any decision I'm researching what are my options for minimize the tax implications.

However, one thing is clear: many people in the hot zones are moving either to other states, or to the suburbs where it’s less crowded and exposure is minimized.

This eliminates having to share an elevator with 300-500 tenants, minimizing their exposure.This impacts the properties with reduced rent collections, increased vacancies, and often requires property managers to offer different types of rent concessions and move-in specials in order to attract or retain tenants.

Craigslist used to contain some hidden gems if you knew what to look for, and now Facebook has crept into that territory, especially with the added listing fees in craigslist (I know, they are minimal but a deterrent).

I think your investment should generate at least your minimal acceptable level of cash flow and then ideally be in an area that you expect will have greater than average appreciation.Hope this was helpful.John

But there are other loan programs out there - conventional (all major systems have to function), hard money, portfolio lending and FHA 203(k) rehab loans.You could minimize your losses by going this route. 

If any or all of those suck, your assignment fee will be minimal.

Well, the condos I purchased with minimal money have been life-changers for me and my family.

Would you use the Total 80% from appraisal to minimize out of pockets which generates less cash flow or use less and more out of pocket for more cash flow?