Thoughts on how I should proceed please

[Joe C.]

Hello to everyone and thanks for all the knowledge I've gotten over the pasts months reading others posts on BP, this is a great place to learn. Well I've just about got my ducks in a row and just looking for some thoughts on how to proceed. I'm looking to buy and hold/rent. I've got about $20k and the properties I'd be comfortable getting are in the 25k-50k range with rents at 750/m. The houses that are around 25k would need 12k-17k in renovations to be rentable. Where I'm questioning myself is wondering whether I should buy the low end home with cash and then get a loan to fix it up. Or should I just get the high end home and get conventional lending and rent immediately? Any comments greatly appreciated. -Joe-