@Kris Lou Be careful with agents as 95%+ of them really only know how to handle owner-occupied transactions.We don't do biz in Indianapolis, so this is unbiased info we hope you find useful:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

It must make selling a house IMPOSSIBLE until its paid off since the same issue sounds like it would apply.

Don't confuse the two.You're 19, good for you to getting involved but keep it trim.

I am starting to get involved with real estate investing, but I am only a college student, so I do not have the income to place a 20% down payment for most properties.

When a tenant moves out, transfer the deposit back to Checking so it's ready to apply towards expenses or refund the Tenant.If you end up with excess funds in the Checking account, I recommend you transfer it to a third account designated explicitly for future investments.

And the best part is that I haven't had any missed rents because people weren't able to apply. 

We're in a small town so we ask our bank loan officer who is involved in the community for a CPA reference.

If the property requires rehab, the Realtor and/ or Mortgage Broker will suggest applying, for a FHA 203k Loan.

The property manager should be involved before you buy any property to give input on due diligence, how to increase income and reduce expenses, and to make repairs or improvements to maximize occupancy.Excellent property management is critical to your success before, during, and when planning to sell or refinance.To your success!

What other kinds of loans or financing strategies are available that don't involve using too much of your own cash?