Starting with the simple approach using bank financing and a small downpayment is a worthwhile learning experience.  

ok  I have read things on creative finance and I found a hard money lender that will finance (if they think worthwhile) 100%.

Mostly related to bird dogging, marketing or bringing in new investors.I went to the REI Expo a few years ago and found it worth while.

NE Minneapolis is a hot market right now, may be more worthwhile to gauge your target areas for the best value.

Maybe you won't even have to replace the plumbing, but inspectors will notice in the inspection and alert the buyer, so consider if this is worthwhile with your agent.

You speak Texan:)  Consider the areas you want to invest, etc and maybe even find something worthwhile before you start spending money, etc forming an entity.

This type of investment offers relatively secure, high returns that make the fees of self-directed accounts worthwhile for me.  

I've lived in the neighborhood close to 10 years now and, perhaps naively, thought that even if the investment metrics didn't show that it were a stellar choice, the location might serve to make it worthwhile given the demand and momentum which exists in RE here locally.The analysis below shows how things look for both 15yr and 30yr financing, and I'm curious to know how people weigh that choice.

There are a couple of wholesalers in DFW who I buy from and consider worthwhile.

In two years time, you would have rental income to show for multi-family, and that would help you qualify for a conventional mortgage.Could you partner with someone locally to go in on a multi-family together, reducing your expenses together and building equity.Could you find a smaller property locally to buy and live in, start building your equity and net worth while saving cash for the next place?