Starting a life with 50k

[James Sunderland]

Okay here's the deal, i'm 22 with a two year associates degree, no debt, no current income(unemployed, living at home), and perfect credit. I've been saving my money over the past six years and have about 65k, 15k in an investment I can tap if I need to. I'd like to buy a place I could live in and flip/rent in the future, the only catch is it has to be something I can support through minimum wage, at the very least. Here are some places I've looked at, mostly C/B- neighborhoods:

http://www.realtor.com/realestateandhomes-detail/5...

http://www.realtor.com/realestateandhomes-detail/1...

What I'm wondering is if it'd be worth taking out a loan to get a more expensive place with better/easier rent. I have never taken any debt nor want any but, if I'm going to be living in the place and doing work on it myself then I'd be okay with the risk. Although I don't have a problem with lower class neighborhoods. Also I'm not sure how the loan process works, if you have no current income/future prospects.

I've never looked at REI before but this is looking really appealing as a personal business you can support yourself with while working from home. I've always wanted my own place, if I can get it to pay for itself I'm sold. Hopefully over time I can build a portfolio and become a full time landlord. I've really been enjoying the material in these forums, it's a great place here.