How can I buy a rental with less than $10,000?

[Eduardo Conde]

Hello everyone!

I recently graduated from a 4 year university and moved down to Miami, FL for work. I have family here and have been blessed to live rent free here in Miami. However, I really want to get into Real Estate Investing and I am currently undecided about what should be my next step.

I've thought about house hacking and getting a FHA loan, but the market here in Miami is very unfavorable. I considered at least moving up North for a year (Ft. Lauderdale area) to purchase a multi family home that would produce cash flow while I stayed there for a year.

Do you think this is possible in the Ft. Lauderdale or even in the Miami area, and if not, what would be the next best thing to do with little money down?