Unfortunately with those numbers it's tough to find a non-bank lender/financial institution that will lend.Usually loan minimums are $50K and the up to 75% LTV on purchase-money/70% LTV on cash-out refinancing, which basically means you need up 25-30% depending on the type of financing. 

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

@Denise Lang some copy & paste thoughts:TYPES OF RENTAL INVESTMENTSRecommend 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?

However, if you are an out-of-state slumlord, you can now pass 100% of the financial and legal liability of maintaining a property onto some poor local.

At the time it made financial sense.

Prioritize your financial stability.

Have a baby, and gallop into the sunset (while still making calls to PM's)INTEREST:I first got interested in Real Estate Investing because of the potential financial freedom it can provide to me and my family.

The goal is to achieve and maintain financial freedom.

If you believe you will be financially ready to build a year from now, perhaps you enter into a lengthier contract where you can obtain all of your building approvals and then settle at a later date.

Also, consider this copy & paste advice below: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 Class A property in Class D area, what quality of tenant will you get?