That doesn't mean that you have to buy nice properties at full retail.  

But 90% of retail agents (Especially those trying to pretend they work with investors) couldn't sell a Harley Rider Chrome Accents.

Typically if you have a large down payment of 20-25%, you can still find properties with positive cash flow in single family and you make money on the appreciation.I bought a newer Townhouse in home town Orangeville recently which is cashflow positive with 20% dp.I agree with Luc and Ming points, you have to be able to improve the property, either improve cash flow or increase property value with reno's.I have looked at multi family and retail net properties but have not found anything too exciting yet.

If the renter is a licensed electrician, then you may concider it.The retail buyer will want the fee credited to them. 

Comparable properties range between $260K - $280K.Why I want to buy:Save on rent as the mortgage will be cheaperFix the house and flip it while living in, holding it for 1-2 years for appreciationI would like to offer a low price on the property (reduce 25K+ off retail) since I plan to buy it as is, and upgrade everything in it since everything is from original 1990's construction. 

I've purchased a used fridge for $200 that has done well for me over the years. some people prefer to buy new fridges rather than clean out their existing perfectly good one, and those discarded units taken away from an new purchase delivery are the ones that I usually end up buying once the retailer cleans them out and makes 100% profit.

I think all you need is a title company to close your transactions - no don't need an account at this time - most title companies have lawyers to close your transactions -You should make sure that you buy real estate at a giant discount - Understand the management process - learn how to be a good landlord - a tenant is a customer - the tenant is the person who will pay for your mortgage - treat them well.Find discounted real estate from landlords who find themselves in rent court -Start to deal directly with owners - I don't think you should depend on agents selling retail properties - you need to go under-ground for great deals -Tax salesPublic AuctionsRun print ads and radio commercialsInternet - 5 weeks ago I created an internet site - I have received over 200 leads - have 70 offers out there and 15 ratified contracts - learn those systems and you will do well.Expired listings - go knock on some of those doors - an expired listing is  FAILURE of property to sell - I am sure the sellers are not happy - go find them and solve their problems.Direct mail to commercial properties owners - commercial buildings can be  great profit center - when you advertise for real estate - signs - internet or mailings always advertise - WANTED REAL ESTATE - houses - commercial and non-conforming properties - all cash -as is - no commission.

If it's a 3-family and fully residential (no retail or office space), then it qualifies as a residential loan under  FHA/Fannie Mae/Freddie Mac guidelines.

Also remember that generally speaking lenders are much more conservative on hotels than they are on apartments/industrial/office/retail.

@Jacob Nunn - sure thing - couple additional adds: - like the idea of being smart on getting rolling - you can never pay retail or above pricing and be a super successful investor.