I understand the first pass is sort of a rough qualification, and the fine-tooth comb part will come later, but what's reasonable to ask for up-front?

I’m new to the real estate investing world and I’ve been reading and combing BP for about two months.

However, I have been the one spending hours a day combing through the MLS listings, and trying to find the houses.  

I pick out addresses and then comb public record to try and surmise what their story might be (retiring soon, underwater, free and clear,  large portfolio and locations of those other properties). 

However, on the previous point, I will recommend reading any loan documents with a fine-toothed comb - not a summary of the loan/program, but the actual loan/program documents.There may be additional conditions in the program (e.g., never being allowed to rent it even after 5 years are up, or only being allowed to rent it to low income people even after 5 years, etc.) and you don't want to be at the closing table (or later) and find something you object to.Free money is great, but you may find (as I've found) that it usually comes with some pretty specific conditions.

Woke up, fell out of bedDragged a comb across my headFound my way downstairs and drank a cupAnd looking up I noticed I was lateFound my coat and grabbed my hatMade the bus in seconds flatFound my way upstairs and had a smokeSomebody spoke and I went into a dreamRead more: Beatles - A Day In The Life Lyrics | MetroLyrics

I don't have an inheritance, I don't make a lot of money (relative to where I live for work), and I already went over my expenses with a "fine toothed comb" and reduced everything possible leaving me roughly $300 I could save per month (that's basically me eating turkey sandwiches everyday).

Steve and Bob, the pa, came out to my property, looked at my policy, went over all the damages with a fine tooth comb, did some magic [or it seemed like it] and within a few weeks, the insurance company sent me a check for $9k more.

I'm not trying to circumvent BP, and don't know if that is in violation of their postings.I feel very adamant in reiterating though, with every other sentiment, that not only is investing outside of your market tough, but combing it with D class is a recipe for disaster.

They will rubberstamp old houses where somebody is living in it but go through like new owns with a fine tooth comb.