Is 10k too low in terms of equity?

[Agbolade Adesoye]

Hi, I'm in Chicago. I have very little equity, roughly 10k. My goal is to buy a single family home and rent it out. I guess my question is that is 10k a little too hopeful when it comes to looking for a fairly decent foreclosed home to purchase outright? Does anyone know a good home buying technique based on my equity level? I do not want to finance