@Justin LareseI wouldn’t pay 30k on either - because that’s too expensive to me lol In fact I never pay more than 18 k per door and I don’t buy sfh . when it comes to low income housing and cheap neighborhoods there is safety in numbers and You want a multifamily for security Financially and for vandalism reasons .

Thanks and I look forward to perusing the forums and l arming as I proceed!

This will give you a good idea of where other investors are buying.You can also run few towns you have in mind by your agent and get the sold listing reports which usually have the payment method types where you can see if its a CASH/ARM/CONVENTIONAL deal which can give you an idea of what kind of buyers you are up against.

The bank will want to keep a margin of safety for them. 

Real estate investing is a pretty forgiving world and the average person can still make money even with some pretty big mistakes.Buckle in, keep your arms and legs in at all times, and enjoy the ride!

Plus, they have a lending arm that I believe matches that 3.5% down for 1 and 2 flats though it’s a conventional loan and you have to use a certified contractor (which in theory you could become yourself). 

But realize you are going to end up paying an arm and a leg, because the vast majority of your direct mail contacts will be flakes not truly interested in selling unless you have a super-targeted campaign.

Safety and locking in gains, I'm right behind you, slowly liquidating at this end of the cycle.

Isn't there an "arm's length" requirement with these sort of sales, which would preclude you buying?

This was a major blow to our plans of having a safety net  as we had all our money invested in the property.