First Rental Investment Near Madison, Wisconsin

[William Prickett]

Hi Everyone, 

I'm a new investor looking to cash flow from rentals in or near Madison. I am hoping to make my first investment within the next year and could use some advice. Initially I was thinking along the lines of using an FHA loan to buy a small multifamily to start out. I also was hoping to find something under 100k since I don't have much money for a larger down payment. Do these types of properties exist or am I being wishful? From my brief search so far I haven't found much in this range period, let alone the larger multifamily homes. If not, would you recommend saving for an extra year-ish to afford a multifamily, buying a single family and living in it for the year, or finding a partner or other means of financing?

Also does anyone in the area have some insight as to what the best area to invest near Madison is? 

Thanks Everyone!