Both include a $5K cushion.  

From reading others posts, listening to the BP podcast and random conversations with other investors/homeowners, I don't think this problem is unique to you or I!  

I have had several clients who have been very successful in these areas, but as it was mentioned before they come with their own unique challenges.

As Brie said, you want to make sure you can hold that property at a comfortable financial cushion.

Again, you need a good cushion to make mistakes and learn the hard way.

Unlike most people, I have unique problem, and that is that I have too much time on my hands.

My husband and I have just purchased a property because it has a unique "overlay" zoning that allows for multiple units to be built.

Here in Hawaii, the real estate market is a bit more vibrant than in the rest of the country thanks to a few unique features (warm weather, idyllic tropical setting, extremely low crime rates, etc.), so demand is consistently higher than in most other places.

Maybe one of them would have had a unique approach.4) FWIW (in an older home), I usually replace all older traps/plumbing under each sink and accessible tub/shower units.

. $27k for $210k invested (none of your own money in the 100% financed scenario) would be about a 13% return, but since you used $0 of your own, it is an infinant return.What I am stating is simply to show you how you can make deals work in this price range and still have enough cushion for the worst case to get out without any loss to anyone.