starting out...how much is enough...or what to do with 20k

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ive been asked this question a million times...i think my advice is sound, but looking for other opinions.  FYI im an investor in the southern new jersey, philadelphia and delaware markets

[Brian Kantor]

At 20% down on a 30-year-mortgage + savings for reserves and rehab gets you a property in the $60k to $80k range. That's more than enough in my market in Detroit (was all-in for $45k on my first rental and looking to be all-in at $70k on my 2nd). 

While I don't know your markets well, I've heard that there are some solid neighborhoods around Camden. Just be careful (Camden or elsewhere) that you don't buy into a problematic neighborhood just because it's what you can afford. If you're only seeing options in sketchy, high-crime areas, you may want to save up for another 6 to 12 months until you have more capital to invest.

If you go this route, while you're "waiting" to save more capital, get started running analyses on 1 to 2 properties per day on your market and finding the right neighborhoods for you. Then, by the time you've got that extra capital, you'll already be a local expert.