I am looking to use a FHA loan if the property is in good condition or a 203k loan if the property is in distress (most likely this route).

@Logan AllecTell everyone you know that you buy distressed property.

So today I went and looked at a property in ct. The homeowner is separating from partner and owns the house solo she lost her job and will loose the house no matter what. It is A 3 bedroom 1&1/2 bath ranch. The h...

So today I went and looked at a property in ct. The homeowner is separating from partner and owns the house solo she lost her job and will loose the house no matter what. It is A 3 bedroom 1&1/2 bath ranch. The h...

be sure to choose the best type of lead - for us, hands down. the probate lead - super motivated seller.direct mail is expensive - but effective for us  (2,000 units / mo)1. learn to draft off of other people's marketing money as well - like listing agentswe look at 5 houses a week from our agents - all of these are distressed properties(need upgrades). the agents know we close, they double end all day long with us.2.

In addition, the percentage of distressed properties making up the overall inventory has dropped significantly over the last two year, making great deals more scarce. 

For me it started with a guy with a newspaper ad and my Godfather demonstrating that buying distressed real estate can be very profitable. 

There are some ways to partner w/ your IRA, but I won't go in to that here.Another strategy you may consider to get the downpayment is to purchase distressed property, renovate it, sell it then use the proceeds for the downpayment on a rental property.  

Find a distressed building for another investor and then partner.

My partner has made his entire career out of cheap, distressed houses in San Antonio.